NEW DELHI (Reuters) – India’s fuel demand is probably going to grow 5.5% in the next fiscal yr starting April 1, preliminary authorities estimates present, reflecting a pick-up in industrial exercise and mobility in Asia’s third largest financial system after months of stagnation.
India’s fuel consumption in 2022-23, a proxy for oil demand, may rise to 214.5 million tonnes from the revised estimates of 203.3 million tonnes for the present fiscal yr ending March 2022, in accordance to authorities forecasts.
The estimates have been launched on the web site of the Petroleum Planning and Analysis Cell (PPAC), a unit of the federal oil ministry.
Local demand for gasoline, used primarily in passenger automobiles, is predicted to rise by 7.8% to 33.3 million tonnes, whereas gasoil consumption was slated grow by about 4% to 79.3 million tonnes, the data confirmed.
Consumption of aviation fuel would doubtless improve by practically 50% to 7.6 million tonnes, in contrast with the revised estimate of 5.1 million tonnes for the yr ending March 2022.
Demand for petcoke, a better-burning different to coal, may improve 2.8% to 14.8 million tonnes, whereas demand for liquefied petroleum fuel, used as cooking fuel, is estimated to grow 4.5% to 29.7 million tonnes, PPAC stated.
The desk beneath reveals the authorities’s estimates for the fiscal years ending March 2022 and March 2023.
Product 2021-22 2022-23 % change
LPG 28.4 29.7 4.5
Kerosene 1.5 1.5 0.0
Gasoline 30.9 33.3 7.8
Naphtha 14.6 15.1 3.3
Gasoil 76.3 79.3 4.0
Jet fuel 5.1 7.6 49.2
LDO 1.0 1.1 8.2
Lubes/Greases 4.5 4.5 1.5
Fuel Oil 6.1 6.3 2.4
Bitumen 7.8 7.9 1.8
Petcoke 14.4 14.8 2.8
Others 12.7 13.3 5.4
All Products 203.3 214.5 5.5
LDO is gentle diesel oil. LPG is liquefied petroleum fuel.
(Reporting by Sudarshan Varadhan and Nidhi Verma; Editing by Jan Harvey)
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