India’s fuel consumption grows at slower rate of 5% in FY17


India’s fuel consumption grows at slower rate of 5% in FY17

India’s fuel consumption grew at a slower rate of 5 per cent in the last fiscal ended on March 31 as diesel demand slowed.

The world’s third largest oil consumer saw demand for fuel and petroleum products rise to 194.2 million tonne in 2016-17, up from 184.6 MT in the previous fiscal, according to the data from Petroleum Planning and Analysis Cell (PPAC) of the oil ministry.

The demand growth was slower than 11.5 per cent recorded in 2015-16 when consumption had jumped to 184.67 MT from 165.5 MT in the previous year.

consumption was up 8.8 per cent to 21.84 mt on the back of rise in two-wheeler and car sales. Jet fuel sales were up 12 per cent at 6.2 mt.

Kerosene demand however declined by a steep 21 per cent to 6.8 mt as restricted supply of subsidised cooking fuel only to the identified needy. Also, replaced it as a cooking fuel in many households.

During March, fuel demand fell 0.6 per cent to 17.35 mt.
sales were up 2.9 per cent at 2.1 mt but diesel consumption showed a marginal 0.3 per cent rise at 6.8 mt. demand was too was up only 1.9 per cent while kerosene sales fell by a massive 26 per cent to 414,000 tonne.  Read More…

 

Credit By: Business Standard

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