Domestic Oil products sales up 7.3%
Abhijit Roy/Commodity OnlineNEW DELHI : India’s domestic oil product sales in January rose 7.3 percent from a year earlier, led by naphtha and diesel, extending a period of rapid demand growth.
The official data by the government also shows domestic refined product sales, a proxy for oil demand, rose to 10.46 million tonnes.
The growth came a month after the first reduction in domestic fuel prices and just ahead of its second, pushed through two weeks ago to combat inflation at a two-year high.
Pump prices of petrol have fallen by 4.5 percent and diesel by 3.2 percent.
Diesel sales, which account for nearly a third of the country's consumption, rose 8.2 percent in January from a year earlier to 3.71 million tonnes (900,000 barrels per day).
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