India oil demand surges 12 per cent in November
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NEW DELHI: India’s oil demand grew 12% in November as customers rushed to petrol pumps to purchase fuel with their old currency notes after the government demonetized high-value notes.
Petrol sales surged 14.25% in November while the demand for diesel, which accounts for nearly 40% of all oil consumed in the country, rose 10.45%.
The sale of aviation turbine fuel also rose 8% on the back of increased air traffic. The use of kerosene fell dramatically by 32% as the central government is cutting down on the allocation of subsidised kerosene to states as access to cooking gas and electricity increases in rural areas.
The government made 500 and 1000 rupees notes illegal on November 8 but allowed petrol pumps, along with hospitals, railways and some other essential services providers, to accept old notes for several days after that. This set off a rush to filling stations.
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Congress leader Rahul Gandhi on Wednesday accused Prime Minister Narendra Modi of waiving off loans worth Rs 16 trillion of his billionaire friends, and said the country will never forgive him for this "crime".
In a post in Hindi on X, he said this money could have been used to cure the pain of Indians but was spent on creating hype for the ilk of those like 'Adanis'.
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