India's fuel consumption increased by 1.9% in July compared to the previous year, reaching approximately 18.09 million tonnes. However, there was a 6.6% decrease in demand compared to the previous month. According to UBS analyst Giovanni Staunovo, this decline is attributed to the seasonal pattern of Indian demand, which typically peaks in March and decreases during the summer due to the monsoon.
Fuel demand was still down about 6.6% from the previous month, when demand stood at 19.36 million tonnes.
There is a seasonality in Indian demand, which normally peaks in March and declines during the summer period due to the monsoon, said UBS analyst Giovanni Staunovo.in India, the world's third-biggest oil importer and consumer, typically falls during the four-month monsoon season beginning in June as parts of the country are affected by heavy floods.
Sales of gasoline fell 5.3% to 2.99 million tonnes and sales of diesel decreased around 13% to 6.89 million tonnes in July from the previous month, the data showed. NOTE: Total figures may not tally because not all items are included in the table, and numbers are rounded.
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