India May Fuel Demand Rises Monthly but Falls Annually
India's fuel consumption rose to 19.93 million metric tons in May but fell 6.5 percent compared to the previous year. Liquefied petroleum gas sales dropped 20 percent as the country faced a significant supply crisis caused by shipping disruptions in the Strait of Hormuz.
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India fuel consumption rose 2.3% to 19.93 million metric tons in May, recovering month-on-month despite a 6.5% annual decline. Higher retail prices and Middle East supply disruptions weighed on demand for cooking gas and industrial fuels. State retailers implemented four price hikes during the month to offset rising crude costs.
