Register now for FREE unlimited entry to Reuters.comAug 8 (Reuters) – India’s gas request in July rose 6.1% twelve months-on-twelve months, information from the Petroleum Planning and Evaluation Cell (PPAC) of the oil ministry showed on Monday.
Consumption of gas, a proxy for oil request, totalled 17.62 million tonnes in July, down 5.7% from 18.68 million tonnes in June.
“India’s gas request outlook is making improvements to because the financial system is poised for a sturdy bounce reduction in consumption and persisted momentum for the products and companies sector,” mentioned Edward Moya, senior analyst with OANDA.
Register now for FREE unlimited entry to Reuters.com”Gasoline request is softer than the prior month as higher prices are initiating to affect request…with the rupee at a traditionally low stage, the nation will fight if oil prices continue to rebound.”
Sales of gas, or petrol, had been 6.8% higher from a twelve months earlier at 2.81 million tonnes.
Gasoline and gas oil sales by Indian converse refiners in July fell from a month earlier as monsoon rains restricted mobility and construction work while high inflation curtailed overall request for items, per preliminary sales information. learn more
Cooking gas or liquefied petroleum gas (LPG) sales increased 1.7% to 2.41 million tonnes, while naphtha sales fell 6.2% to 1.14 million tonnes.
Sales of bitumen, vulnerable for making roads, had been up 1.4%, while gas oil exhaust edged up 19.8% in July.
Register now for FREE unlimited entry to Reuters.comReporting by Seher Dareen in Bengaluru; Editing by Leslie Adler and Marguerita Choy
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