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As per the report, the consumption of fuel rose by more than 5 percent to 4.82 million barrels per day (18.5 million tonnes) in February 2023. This is India's 15th consecutive year-on-year rise in oil demand.
This high consumption comes from a combination of profitable refining from Russian crude imports, total utilisation for primary distillation across the country and robust domestic consumption.
Petrol sales rose 8.9 percent year-on-year to 2.8 million tonnes in February while diesel consumption climbed 7.5 percent to 6.98 million tonnes. Sales of bitumen, which is used for building roads, jumped 21.5 percent month-on-month. However, fuel oil use declined more than five percent in February.
