India’s petroleum products demand falls marginally in December 2019

India’s petroleum product demand in December fell by a marginal 0.12 per cent to 18,787 Thousand Tonne (TMT) as compared to the demand in the same month last year, fresh data published by Petroleum Planning and Analysis Cell (PPAC), the oil ministry’s statistical arm, showed.

The demand in December fell after recovering in the previous month. Overall, in the first nine months of the current financial year, the demand rose 1.84 per cent to 160,603 thousand tonne.

Overall slowdown in the economic activity coupled with an erratic rainfall have dented the petroleum products’ demand which is expected to remain below 3 per cent in the current financial year, according to rating agency ICRA.

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