India’s fuel demand is likely to grow 5.5 percent in the coming fiscal year
NEW DELHI:
India’s fuel demand is likely to grow 5.5 percent in its next fiscal year starting April 1, the government’s first estimates show.
India’s fuel consumption in 2022-23, indicative of oil demand, could rise to 214.5 million tons according to government forecasts from revised estimates of 203.3 million tons for the current fiscal year ending in March 2022.
The estimates have been published on the website of the Petroleum Planning and Analysis Cell (PPAC), a unit of the Federal Ministry of Oil.
Local demand for petrol, which is mainly used in passenger cars, is expected to increase by 7.8 percent to 33.3 million tons, while gas oil consumption is expected to grow by about 4 percent to 79.3 million tons, according to a new report. the data.
Jet fuel consumption was likely to increase by nearly 50 percent to 7.6 million tons, compared to the revised estimate of 5.1 million tons for the year ending March 2022.
Demand for petroleum coke, a better-burning alternative to coal, could grow 2.8 percent to 14.8 million tons, while demand for liquefied petroleum gas, used as a cooking fuel, is estimated to grow 4.5 percent to 29.9%. 7 million tons, according to PPAC.
