Diesel demand has declined this fiscal for the first time in more than a decade as monthly price hikes and increased power generation clipped consumption, Indian Oil Corporation has stated on December 5.
India's most consumed fuel is diesel and accounts close to 45 per cent of the total petroleum product demand. It has seen sales growth of 6-8 per cent since 2003-04.
However, diesel has fallen by 0.8 per cent over last year to 39.46 million tonne. This year, there has been 0.8-1 per cent degrowth, IOC said. The deceleration in diesel demand, he said, was due to better power production which saw lesser burning of the fuel in gensets.