India's diesel consumption grows at a slower 4 per cent in October

Diesel consumption in the country grew at a slower 4 per cent annual rate to 4.96 million tonnes in October 2010 while petrol sales were up 7.3 per cent at 1.21 million tonnes.

Sales of naphtha, kerosene, fuel oil, bitumen and petcoke, however, recorded negative growth in sales. Naphtha sales were down 9.8 per cent at 738,500 tonnes but jet fuel consumption was up 10 per cent at 434,100 tonnes.

Overall fuel sales in the country were up one per cent at 11.647 million tonnes in October 2010 against 11.538 million tonnes in the same month of the previous year.

The government estimates domestic oil product demand to rise 5.7 per cent in the current financial year.

India's oil product imports were up 44.3 per cent at 1.22 million tonnes while exports dropped by a whopping 45 per cent to 2.96 million tonnes.
   
Diesel exports fell 70 per cent year-on-year in October to 6,76,000 tonnes, while petrol exports were down 50.4 per cent at 4,52,500 tonnes.
    
In the April-October 2010 period, fuel consumption in India was up 1.8 per cent at 81.02 million tonnes, with diesel recording a 6.7 per cent growth rate at 32.01 million tonnes. Petrol sales were up 11.1 per cent at 8.24 million tonnes.
    
Crude oil imports into the country dipped 1.9 per cent to 89 million tonnes in April-October. Oil product imports were up 12.4 per cent at 10.18 million tonnes while exports rose 6.4 per cent to 28.41 million tonnes.

India's crude oil imports declined over 23 per cent in October despite a marginal increase in fuel consumption and a reversal in the declining trend in fuel sales of the past two months.

Oil refining companies in the country, including state-run oil refining and marketing companies, imported 10.1 million tonnes of crude oil in October 2010 against 13.23 million tonnes imported in October 2009, data provided by the petroleum ministry showed.