Consumption of fuel, a proxy for oil demand, meanwhile, eased 0.3% year-on-year to 18.41 million tonnes in April, also retreating over 10% from the record highs seen in March powered by robust economic activity. Oil demand is holding up quite well and should continue rising supported by solid economic growth in India, said UBS analyst Giovanni Staunovo.
Sales of jet fuel also jumped 18.2% year-on-year to 0.65 million tonnes, but eased from a record high in March. Sales of gasoline, or petrol, that's used in passenger vehicles, meanwhile, declined 7.4% from last month, yet was up 2.9% on a year-on-year basis.
India cut the windfall tax on petroleum crude earlier this
month, and left the tax on petrol, diesel and aviation turbine
fuel at zero.
Cooking gas, or liquefied petroleum gas (LPG), sales
decreased 10.8% to around 2.2 million tonnes month-on-month.
(Reporting by Rahul Paswan and Seher Dareen in Bengaluru;
Editing by Toby Chopra and Ed Osmond)
