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MUMBAI: India’s fuel consumption jumped 23.8 percent in May from a year earlier, continuing a recovery from a relatively low base in 2021 when the world’s third-biggest oil consumer was in the grip of the second wave of COVID-19.
Consumption of fuel, a proxy for oil demand, totaled 18.27 million tons last month, according to data from the Indian oil ministry’s Petroleum Planning and Analysis Cell.
Last month’s increase was the biggest year-on-year jump since April 2021. Consumption also rose modestly, by 0.4 percent, from April.
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