India’s oil product consumption falls to three-month low

Oil

India’s oil product consumption declined by 215K b/d m-o-m to 4.13M b/d in August, falling for the second month in a row to the lowest level since May, according to data from the Petroleum Planning and Analysis Cell (PPAC). Despite this decline, gasoline use rose by 17K b/d m-o-m to a five-month high of 741K b/d, while jet fuel consumption also increased by 16K b/d m-o-m to 96K b/d. Sales of diesel fell by 128K b/d m-o-m to 1.37M b/d, with naphtha consumption also decreasing by 55K b/d m-o-m to 288K b/d, the lowest level since May 20.