India's flat May fuel demand points to sluggish economy

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India's flat May fuel demand points to sluggish economy
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India's fuel demand in May was unchanged from a year earlier, preliminary g...

A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai, India, May 21, 2018. REUTERS/Francis Mascarenhas/File Photo

Fuel consumption, a proxy for oil demand, was 18.61 million tonnes in May, data from the Petroleum Planning and Analysis Cell of the oil ministry showed on Saturday. Several indicators – automobile sales, rail freight and domestic air traffic - indicate a slowdown in domestic consumption. India has not yet released industrial output data for May.

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