(ET)
The demand for diesel stayed flat while that for petrol crawled up barely 2% in May when fuel prices claimed record highs in the country. Total consumption of petroleum products rose 3.3% in May, lower than the 4.5% in April. Consumption of diesel, which makes up 40% of all oil demand in the country, rose just 0.25% in May, as against 2.6% growth in April.
The demand for petrol, the favourite fuel among car and motorbike owners, expanded just 1.9% in May after rising 9.2% in April. Consumption of jet fuel grew 11% and cooking gas 14.4% in May. Record prices of petrol and diesel could be one key reason for the fuel demand growth to shrink in May, oil industry executives said. Availability of grid power, rains, the sale of cars and bikes, and other economic factors too influence the demand for fuel, executives said.
