India's oil product consumption averaged 3.29 million b/d in May, up 6% year-on-year, according to Energy Intelligence calculations based on data from the petroleum and natural gas ministry. Diesel and gasoline consumption continued to grow strongly, while fuel oil demand tumbled on higher prices. Power generators started taking more diesel in preference to higher-priced fuel oil. Fuel oil prices are not regulated, and have moved higher with international prices, while diesel prices had been capped since November, providing an incentive to switch.
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