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India's January oil demand spiked, mainly fueled by LPG and gasoline

Last Update 19 February 2024

India's January oil demand surged by 398,000 b/d (8.2% YoY), led by LPG and gasoline growth, post-holidays. Jet fuel consumption slightly declined due to fog-related flight disruptions. Diesel rose annually by 3.7% but fell by 43,000 b/d month-on-month, affected by dense fog in northern India, per Himi Srivastava, Senior Analyst at S&P Global Commodity Insights.

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