April 8 (Reuters) - India's fuel consumption fell 0.6%
year-on-year in March, but demand for the 2024 financial year
was up about 5%, primarily driven by higher automotive fuel and
naphtha sales.
Total consumption, a proxy for oil demand, totalled 21.09
million metric tons (4.99 million barrels per day) in March,
down from 21.22 million tons (5.02 mbpd) last year, preliminary
data from the Petroleum Planning and Analysis Cell (PPAC) of the
oil ministry showed on Saturday.
However, fuel demand for the 2024 financial year, ending in
March, hit a record high of 233.276 million tons (4.67 mbpd)
compared to 223.021 million tons (4.48 mbpd) a year earlier.
Sales of diesel, mainly used by trucks and commercially run
passenger vehicles, rose 3.1% year-on-year to 8.04 million tons
in March and was up 4.4% for the previous fiscal year.
Sales of gasoline in March rose 6.9% year-on-year to 3.32
million tons and were up 6.4% for the fiscal year.
Sales of bitumen, used for making roads, were largely steady
in March, but were up 9.9% for the fiscal year.
Sales of cooking gas, or liquefied petroleum gas, rose 8.6%
to 2.61 million tons, while naphtha sales jumped 5.5% to about
1.19 million tons, compared with last March, the data showed.
The usage of fuel oil fell 9.7% year-on-year in March and
declined 6.3% for the fiscal year.
DOMESTIC SALES (in million tons)
2024 2024 2024 2023 2023 2023
MAR FEB JAN MAR FEB JAN
Diesel 8.04 7.44 7.43 7.79 7.00 7.18
Petrol 3.32 3.02 3.10 3.11 2.78 2.83
LPG 2.61 2.59 2.70 2.41 2.39 2.51
Naphtha 1.19 1.20 1.31 1.13 1.07 1.13
Jet Fuel 0.76 0.71 0.72 0.69 0.63 0.67
Kerosene 0.03 0.04 0.04 0.03 0.03 0.03
Fuel Oil 0.53 0.51 0.56 0.59 0.58 0.59
Bitumen 0.99 0.90 0.78 1.06 0.87 0.71
TOTAL 21.09 19.76 20.02 21.22 18.66 18.51
(Reporting by Harshit Verma in Bengaluru; Editing by Sonia
Cheema)
India's fuel demand hits new FY record, up about 5%
April 08, 2024 at 01:05 pm IST
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