India's April oil consumption rises by 6% YoY: Oil Ministry

As the world's third-largest oil importer and consumer, this data is a key indicator of the country's oil demand.

Total consumption reached 19.86 million metric tons (equivalent to 4.85 million barrels per day) in April, up from 18.71 million tons recorded the previous year.

However, there was a 5.8 percent decrease in demand compared to March, which saw consumption totalling 21.09 million metric tons.

Diesel sales, primarily used to operate trucks and commercially run passenger vehicles, experienced a 1.4 percent year-on-year increase to 7.93 million tons in April. Gasoline sales surged by 14 percent compared to the previous year, reaching 3.28 million tons.

On the other hand, demand for bitumen, used in road construction, saw a decline of over 5 percent annually.

Cooking gas (liquefied petroleum gas) sales rose by nearly 10 percent to 2.36 million tons, while naphtha sales increased by 3.9 percent to approximately 1.16 million tons compared to the previous April.

However, fuel oil use witnessed a notable decline of more than 16 percent year-on-year in April.

Despite fluctuations in fuel consumption, India's economy remains the fastest-growing among major peers, with GDP expected to expand by 6.5 percent in the current fiscal year.

Although there was a marginal slowdown in growth in India's manufacturing sector in April, demand remained robust, prompting firms to increase purchases of raw materials at a near-record pace, as indicated by a recent business survey.