India’s fuel consumption climbed to a six-month high in November, rising 5.5% from October to 21.27 million metric tons, according to data from the oil ministry.

Why it's important?

India is the world’s third-largest consumer and importer of oil and the largest buyer of Russian seaborne crude, taking advantage of discounts on Russian oil as Europe and the US shun those barrels over Russia’s invasion of Ukraine.

India’s fuel demand rose to its highest level since May in November, climbing 3.0% from a year earlier, data from the Petroleum Planning and Analysis Cell (PPAC) showed on Saturday, December 6.

Sales of gasoline, or petrol, totalled 3.52 million tons, easing 4.1% from October but 2.6% higher than the same month last year.

Diesel consumption jumped 12.2% month-on-month to 8.55 m

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