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Economic Times
5 days ago
- Business
- Economic Times
India's fuel demand falls 4.7% in June due to seasonal slowdown
This is an AI-generated image, used for representational purposes only. India's fuel consumption saw a dip in June. It decreased by 4.7% compared to May. Total consumption reached 20.31 million metric tons. Gasoline sales also experienced a decline. Diesel consumption showed a slight increase. Overall fuel demand was up compared to last year. Seasonal factors and potential supply disruptions influenced the market. Tired of too many ads? Remove Ads WHY IT'S IMPORTANT BY THE NUMBERS Tired of too many ads? Remove Ads KEY QUOTE CONTEXT Fuel Type June 2025 May 2025 April 2025 June 2024 May 2024 April 2024 Diesel 8.11 8.59 8.26 7.98 8.41 7.93 Petrol 3.52 3.78 3.45 3.30 3.46 3.29 LPG 2.53 2.66 2.55 2.32 2.41 2.37 Naphtha 1.03 1.00 0.94 1.01 1.09 1.22 Jet Fuel 0.73 0.78 0.77 0.71 0.74 0.74 Kerosene 0.04 0.04 0.03 0.04 0.03 0.03 Fuel Oil 0.51 0.51 0.49 0.58 0.62 0.53 Bitumen 0.68 0.81 0.86 0.74 0.94 0.84 TOTAL 20.31 21.31 20.21 19.94 21.08 20.16 India's fuel consumption in June fell by 4.7% month on month to 20.31 million metric tons, oil ministry data showed on is the world's third-largest consumer and importer of oil. The data is a proxy for the country's oil a yearly basis, fuel demand in June was up 1.9% from 19.94 million tons last year, but was down 4.7% on a month-on-month basis, data on the Petroleum Planning and Analysis Cell 's website of gasoline, or petrol, fell 6.9% to 3.52 million tons in June, compared with 3.78 million tons in May, but were up 6.7% from levels seen a year ago. Diesel consumption was up 1.6% on a yearly basis and totaled 8.11 million metric tons in gas or liquefied petroleum gas (LPG) sales decreased 4.9% to 2.53 million metric tons month on month, while naphtha sales rose 3% to 1.03 million metric tons. On a yearly basis, LPG and naphtha sales rose 9.1% and about 2%, of bitumen, used for making roads, were 16% lower in June, in comparison with May."Due to the seasonality in Indian demand - demand falls during the monsoon season - June demand is lower than May. Normally demand is trending seasonally lower until August/September," UBS analyst Giovanni Staunovo services sector enjoyed its strongest growth in ten months in June, fuelled by robust demand and cooling price pressures, a survey showed on Thursday. India will take measures to safeguard domestic fuel supplies, oil minister Hardeep Singh Puri said last month, after U.S. attacks on Iran's nuclear sites raised the risk of disruption of Middle Eastern oil and gas and soaring energy prices.
Time of India
5 days ago
- Business
- Time of India
India's fuel demand falls 4.7% in June due to seasonal slowdown
India's fuel consumption in June fell by 4.7 per cent month on month to 20.31 million metric tons, oil ministry data showed on Monday. WHY IT'S IMPORTANT India is the world's third-largest consumer and importer of oil. The data is a proxy for the country's oil demand. BY THE NUMBERS On a yearly basis, fuel demand in June was up 1.9 per cent from 19.94 million tons last year, but was down 4.7 per cent on a month-on-month basis, data on the Petroleum Planning and Analysis Cell 's website showed. Sales of gasoline, or petrol, fell 6.9 per cent to 3.52 million tons in June, compared with 3.78 million tons in May, but were up 6.7 per cent from levels seen a year ago. Diesel consumption was up 1.6 per cent on a yearly basis and totaled 8.11 million metric tons in June. Cooking gas or liquefied petroleum gas (LPG) sales decreased 4.9 per cent to 2.53 million metric tons month on month, while naphtha sales rose 3 per cent to 1.03 million metric tons. On a yearly basis, LPG and naphtha sales rose 9.1 per cent and about 2%, respectively. Sales of bitumen, used for making roads, were 16 per cent lower in June, in comparison with May. KEY QUOTE "Due to the seasonality in Indian demand - demand falls during the monsoon season - June demand is lower than May. Normally demand is trending seasonally lower until August/September," UBS analyst Giovanni Staunovo said. CONTEXT India's services sector enjoyed its strongest growth in ten months in June, fuelled by robust demand and cooling price pressures, a survey showed on Thursday. India will take measures to safeguard domestic fuel supplies, oil minister Hardeep Singh Puri said last month, after U.S. attacks on Iran's nuclear sites raised the risk of disruption of Middle Eastern oil and gas and soaring energy prices. Fuel TypeJune 2025May 2025April 2025June 2024May 2024April 2024Diesel8.118.598.267.988.417.93Petrol3.523.783.453.303.463.29LPG2.532.662.552.322.412.37Naphtha1.031.000.941.011.091.22Jet Fuel0.730.780.770.710.740.74Kerosene0.040.040.030.040.030.03Fuel Oil0.510.510.490.580.620.53Bitumen0.680.810.860.740.940.84TOTAL20.3121.3120.2119.9421.0820.16
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Business Standard
5 days ago
- Business
- Business Standard
India's fuel demand declines 4.7% to 20.31 MMT in June, shows govt data
India is the world's third-largest consumer and importer of oil. The data is a proxy for the country's oil demand Reuters India's fuel consumption in June fell by 4.7 per cent month on month to 20.31 million metric tonnes, oil ministry data showed on Monday. India is the world's third-largest consumer and importer of oil. The data is a proxy for the country's oil demand. On a yearly basis, fuel demand in June was up 1.9 per cent from 19.94 million tons last year, but was down 4.7 per cent on a month-on-month basis, data on the Petroleum Planning and Analysis Cell's website showed. Sales of gasoline, or petrol, fell 6.9 per cent to 3.52 million tons in June, compared with 3.78 million tons in May, but were up 6.7 per cent from levels seen a year ago. Diesel consumption was up 1.6 per cent on a yearly basis and totaled 8.11 million metric tons in June. Cooking gas or liquefied petroleum gas (LPG) sales decreased 4.9 per cent to 2.53 million metric tons month on month, while naphtha sales rose 3 per cent to 1.03 million metric tons. On a yearly basis, LPG and naphtha sales rose 9.1 per cent and about 2 per cent, respectively. Sales of bitumen, used for making roads, were 16 per cent lower in June, in comparison with May. "Due to the seasonality in Indian demand - demand falls during the monsoon season - June demand is lower than May. Normally demand is trending seasonally lower until August/September," UBS analyst Giovanni Staunovo said. India's services sector enjoyed its strongest growth in ten months in June, fuelled by robust demand and cooling price pressures, a survey showed on Thursday. India will take measures to safeguard domestic fuel supplies, oil minister Hardeep Singh Puri said last month, after U.S. attacks on Iran's nuclear sites raised the risk of disruption of Middle Eastern oil and gas and soaring energy prices.
Time of India
5 days ago
- Business
- Time of India
India's fuel demand falls 4.7% in June due to seasonal slowdown
WHY IT'S IMPORTANT BY THE NUMBERS Live Events KEY QUOTE CONTEXT Fuel Type June 2025 May 2025 April 2025 June 2024 May 2024 April 2024 Diesel 8.11 8.59 8.26 7.98 8.41 7.93 Petrol 3.52 3.78 3.45 3.30 3.46 3.29 LPG 2.53 2.66 2.55 2.32 2.41 2.37 Naphtha 1.03 1.00 0.94 1.01 1.09 1.22 Jet Fuel 0.73 0.78 0.77 0.71 0.74 0.74 Kerosene 0.04 0.04 0.03 0.04 0.03 0.03 Fuel Oil 0.51 0.51 0.49 0.58 0.62 0.53 Bitumen 0.68 0.81 0.86 0.74 0.94 0.84 TOTAL 20.31 21.31 20.21 19.94 21.08 20.16 (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel India's fuel consumption in June fell by 4.7% month on month to 20.31 million metric tons, oil ministry data showed on is the world's third-largest consumer and importer of oil. The data is a proxy for the country's oil a yearly basis, fuel demand in June was up 1.9% from 19.94 million tons last year, but was down 4.7% on a month-on-month basis, data on the Petroleum Planning and Analysis Cell 's website of gasoline, or petrol, fell 6.9% to 3.52 million tons in June, compared with 3.78 million tons in May, but were up 6.7% from levels seen a year ago. Diesel consumption was up 1.6% on a yearly basis and totaled 8.11 million metric tons in gas or liquefied petroleum gas (LPG) sales decreased 4.9% to 2.53 million metric tons month on month, while naphtha sales rose 3% to 1.03 million metric tons. On a yearly basis, LPG and naphtha sales rose 9.1% and about 2%, of bitumen, used for making roads, were 16% lower in June, in comparison with May."Due to the seasonality in Indian demand - demand falls during the monsoon season - June demand is lower than May. Normally demand is trending seasonally lower until August/September," UBS analyst Giovanni Staunovo services sector enjoyed its strongest growth in ten months in June, fuelled by robust demand and cooling price pressures, a survey showed on Thursday. India will take measures to safeguard domestic fuel supplies, oil minister Hardeep Singh Puri said last month, after U.S. attacks on Iran's nuclear sites raised the risk of disruption of Middle Eastern oil and gas and soaring energy prices.
The Print
30-06-2025
- Business
- The Print
APM gas price hits ceiling of USD 6.75
USD 6.75 per mmBtu is the ceiling price for gas from legacy fields, known as APM gas, which accounts for roughly half the input used in producing CNG. It is also utilised in power generation, fertiliser production, and piped directly to households for cooking. As part of the monthly revision, the price of natural gas from legacy fields operated by state-owned companies was increased to USD 6.75 per million British thermal units, up from USD 6.41, according to a notification from the Petroleum Planning and Analysis Cell (PPAC) of the Oil Ministry. New Delhi, Jun 30 (PTI) The price of natural gas used for producing CNG for vehicles and cooking gas was raised 5 per cent for July, following a surge in oil prices triggered by Israel's military strike on Iran. A higher input gas price would squeeze margins of city gas retailers. City gas retailers may choose to hike CNG prices if the increase pinches them. APM gas price is revised on the first of every month, set at 10 per cent of the average import price of crude oil in the preceding month. But this price is subject to a floor or minimum rate and a ceiling or maximum rate. The ceiling price for 2025-26 is USD 6.75. According to PPAC, the price of APM gas for the period from July 1 to July 31, 2025, was calculated at USD 6.89 per mmBtu on a gross calorific value (GCV) basis. However, the rate will be capped at the ceiling price of USD 6.75. In the last revision effective June 1, the APM gas price was cut for the first time in two years, dropping to USD 6.41 per mmBtu from USD 6.75 in the previous month. This was the first reduction since the government in April 2023 implemented a new formula to price APM gas. In April 2023, the Union Cabinet accepted an expert committee report to price on a monthly basis the gas from legacy fields, called APM gas, at 10 per cent of monthly average import price of crude oil with a floor of USD 4 and a cap of USD 6.5 per mmBtu. The cap price was to remain unchanged for two years and rise by USD 0.25 annually thereafter. In line with this, the cap rose to USD 6.75 per mmBtu in April 2025. In the first two years, the price of gas using this formula ranged between USD 7.29 per mmBtu and USD 9.12 but the cap ensured that the rate were fixed at USD 6.50 per mmBtu. In April, the price according to this formula came to USD 7.26 per mmBtu but the final rate was USD 6.75 in line with higher cap. In May, the price came to USD 6.93 but was capped to USD 6.75 for consumers. Since there has been a fall in international oil prices in view of uncertain demand outlook, the Indian basket of crude oil averaged around USD 64 in May. Using this as a benchmark, the APM gas price came to USD 6.41 per mmBtu on GCV basis, according to PPAC. But oil prices rose after Israel attacked Iran last month. That rise has translated into higher APM gas price as well. The rise in benchmark also means that the price of gas that ONGC produced from new wells in the APM fields would also go up. The government had allowed ONGC to charge 12 per cent of the oil price for the gas coming from new wells it drills. The higher price was to make up for the capex incurred in drilling new wells. As much as 5 million standard cubic meters per day of gas — or a 10th of all gas produced by ONGC — comes from new wells, according to industry sources. APM gas is one produced by state-owned firms Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) from fields that were given to them on nomination basis. This gas is the input that is used in the cooking gas piped to household kitchens as well as turned into CNG for running automobiles, making fertilisers and producing electricity. Prior to April 2023, the price of gas produced from fields covered under the Administered Price Mechanism (APM) regime — which accounts for 70 per cent of domestic gas production — was determined semi-annually based on a formula that benchmarked it to average international prices at four gas trading hubs. APM gas is provided to city gas distributors for supply to CNG and residential PNG segments, which together account for 60 per cent of their sales volume. Subsequent to the April 2023 decision, APM gas prices are revised on a monthly basis but subject to ceiling and floor price. The ceiling price now is USD 6.75 per MMBtu and will rise by another USD 0.25 per mmBtu in April next year. APM gas prices had seen wide fluctuations in the years running up to the April 2023 decision. From a low of USD 1.79 per mmBtu in 2021, to a high of USD 8.57 for the six-month period ending March 2023. The rate for difficult fields like KG-D6 of Reliance Industries has been set at USD 10.04 per MMBtu for six months beginning April 1 as compared to USD 10.16 in the preceding six months period, according to PPAC. PTI ANZ ANZ TRB This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
