Do you want to see the impact of fuel prices in India on the economy? In this post, we’ll tell you how you can do it by using a fuel price API.
India is one of the largest producers and consumers of petroleum products. The Indian economy is highly dependent on the import of crude oil and petroleum products. India is the third-largest consumer of oil in the world after the United States and China. India is the fourth-largest exporter of oil after Saudi Arabia, Russia, and Iraq.
Petroleum products are used in almost every sector of Indian industry, including transportation, power generation, manufacturing, and agriculture. Petroleum products are used in the production of fertilizers, plastics, synthetic fibers, pharmaceuticals, and pesticides.
The transportation sector is by far the largest consumer of petroleum products in India. The transportation sector uses about 60% of India’s total petroleum consumption. The majority of this is consumed by passenger cars, two-wheelers (motorcycles), three-wheelers (autorickshaws), four-wheelers (taxis and private cars), and public transportation.
The chemical industry consumes about 15% of India’s total petroleum consumption. Petroleum products are used as feedstock in chemical manufacturing processes to produce plastics, synthetic fibers, solvents, fertilizers, paints, varnishes, adhesives, and pharmaceuticals.
The mining sector accounts for about 5% of total petroleum consumption in India. Petroleum products are used to extract coal from coal mines and to transport coal from mines to ports for export.
According to the Indian Ministry of Petroleum and Natural Gas, India’s crude oil production has increased from 29 million tons in April 2018 to 30 million tons in May 2019. This increase was due to an increase in production from the western offshore fields (10 million tons) and the eastern offshore fields (9 million tons).
Use An API
If you live in India or visit frequently it’s important that you know what impact that fuel prices can have on your economy. That’s why we recommend using an API like Fuel Prices to know them at any time or place.
An API can be used to retrieve live data on fuel prices so that you may use this data to improve your business model or simply keep track of what’s happening with fuel prices around the world. You may incorporate this data into your website or app using our API so that clients may benefit from it.
Fuel Prices In India API
Consider having access to gas prices for each city in India. There are many advantages to using this India Fuel Price API. First of all, instead of driving straight to the gas station and being surprised by price changes, you can just check the API before you go and be informed. This API offers the most recent gasoline and diesel rates for each Indian city. Every time, you’ll receive the most recent prices.
If Zyla Labs is foreign to you, all you need to know is that it is an all-in-one answer to your expanding needs. You can relax because only one API key is needed for all necessary commodities, so you don’t have to worry about collecting them.
To get the most recent prices for gasoline, diesel, and compressed natural gas, this API essentially uses the City ID that you provide. If you’re curious about how it functions, read on. The difference will also be provided to you if the prices change for any reason.
