Help Desk -
9717405332, 9599714297, 9810335381
Email
Password

India’s fuel demand grew 3.97pct in October 2018

Gasoil News - Published on Fri, 16 Nov 2018

Image Source: Livemint
ETEnergyWorld reported that India’s total fuel demand in the month of October increased 3.97 per cent to 17,992 tonne, as compared to 17,304 tonne reported in the corresponding month a year ago, on the back of increased consumption of diesel, petrol, Aviation Turbine Fuel (ATF) and Liquefied Petroleum Gas (LPG). The growth in consumption came despite petrol and diesel prices scaling new highs in the month of October. Petrol price had peaked to Rs 84 per litre in New Delhi on 4 October and diesel price had peaked to Rs 75.45 per litre on the same day, the highest recorded price for both the fuels in the national capital.

India’s monthly petroleum product consumption in the first seven months of the present financial year 2018-2019 has varied from a decline of -0.38 per cent in August to a growth of 8.66 per cent in June.

Petrol demand grew at 4.62 per cent to 2,331 tonnes during the month as compared to the corresponding month a year ago, on the back of robust growth in sale of two-wheelers, which approximately account for 60 per cent of the country’s petrol demand.

Data sourced from Society of Indian Automobile Manufacturing shows that domestic two-wheeler sales in October grew at 17.23 per cent to 20,53,497 units aiding the consumption of petrol in the country.

Consumption of diesel in October grew 6.73 per cent to 6,988 tonnes on the back of robust sales in the commercial vehicle category, a driver of diesel consumption in the country. Sale of commercial vehicles in October grew at 24.82 per cent to 87,147 units aiding the consumption of diesel in the country.

Consumption of ATF, primarily used as a fuel to run airlines, grew 9 per cent to 689 tonnes in October as compared to the corresponding month a year ago, on the back of improved growth in domestic air traffic.

Consumption of LPG, primarily used as a cooking fuel, grew 4.82 per cent to 2,065 tonne in October. Total LPG consumption in the country has been registering growth for 62 straight months, primarily due to oil ministry's flagship Pradhan Mantri Ujjwala Yojana.

The consumption of pet-coke, a polluting fuel primarily used in the cement and power industry, witnessed a decline of 11 per cent in October at 2,048 tonnes as compared to the corresponding month a year ago.

According to Oil Ministry’s statistical arm, the consumption of pet-coke by the cement industry is on the rise after the Supreme Court order of December 2017 allowed its use as a feedstock.

Source :

Posted By : Joykumar Irom on Fri, 16 Nov 2018
Related News from Gasoil segment