Total petroleum product consumption stood at 19.41 million tonnes in March, the highest since March 2019
Total petroleum product consumption stood at 19.41 million tonnes in March, the highest since March 2019
Fuel demand in the country rose 4.2% to a three-year high in March, as consumption of petrol and diesel remained above pre-pandemic levels, according to official data released on Monday.
Total petroleum product consumption stood at 19.41 million tonnes in March, the highest since March 2019, data from the Petroleum Planning and Analysis Cell of the oil ministry showed.
As the economy continued to recover from the deepening effects of the third wave of the COVID-19 pandemic, demand for transportation fuels picked up in March.
Diesel, the most widely used fuel in the country, accounts for nearly 40% of all petroleum products consumed, with demand seeing a 6.7% increase to 7.7 million tonnes. Petrol sales, which surpassed pre-COVID levels a few months back, rose 6.1% to 2.91 million tonnes.
In March, demand for both fuels was above pre-pandemic levels.
Diesel consumption was higher due to strong demand from the agriculture sector as well as stockpiling by consumers and petrol pumps in anticipation of price hike.
LPG (LPG) demand grew 9.8% to 2.48 million tonnes in March.
Fuel demand grew 4.3% to 202.71 million tonnes in the fiscal year ended March 31, the highest since FY20.
While consumption of auto and cooking fuels increased, industrial fuels decreased.
Petrol consumption grew 10.3% to 30.85 million tonnes in 2021-22, while diesel sales grew 5.4% to 76.7 million tonnes.
Petrol demand was the highest ever in FY22 while diesel sales were the highest since consumption at 82.6 million tonnes in 2019-20.
LPG consumption stood at 3% ± 28.33 million tonnes.
Demand for jet fuel, or ATF, rose 35% to 5 million tonnes, but consumption was less than 8 million tonnes in the pre-pandemic year. The main reason for this was that full aviation services resumed only at the end of last month.
Petroleum coke consumption fell 9.7% to 14.1 million tonnes in FY12, while kerosene demand declined 17% to 1.5 million tonnes.
The consumption of naphtha used as fuel in industries, as well as bitumen used in road construction, was 14.2 million tonnes and 7.7 million tonnes, respectively.