India's oil demand drops in September as prices rise to year's high

Petrol and diesel demand in India for the month of September fell to its lowest point this year, data released by Petroleum Planning & Analysis Cell of Ministry of Petroleum & Natural Gas showed. 

The data showed that oil demand in September fell 2% on an year-on-year basis, at 14.6 million tonne. Demand for petrol and diesel fell 3.4% and 11.4%, at 1.8 million tonne and 5.2 million tonne, respectively. 

Price of an Indian basket of crude oil in September crossed $50 per barrel for the first time ($50.14) in a year. 

The data further showed that imports of oil products rose 15.3%, at 2.69 million tonne. 

Exports, too, rose 3.8%, at 5.44 million tonne.