India’s fuel demand touched a five-month high in October as demand for vehicles ahead of the festive season led to a surge in the consumption of diesel and gasoline. Oil demand during the month shot up 17 percent to 15.2 million metric tons from a year earlier, the highest since May, according to data published by the oil ministry’s Petroleum Planning & Analysis Cell . Diesel use rose 16 percent to 6.34 million tons, while gasoline consumption increased 14 percent to 1.85 million tons. With the onset of the festival season, passenger car sales jumped 22 percent in October, while industrial production rose 3.6 percent in September from a year earlier. Asia’s third-largest economy can grow at a pace of 8 percent to 10 percent in the coming years, Finance Minister Arun Jaitley said on Nov. 14. Diesel demand, which comprises about 42 percent of India’s fossil-fuel consumption, was […]