New Delhi: Consumption of petrol and diesel in India hit record high in May. Data released by Petroleum Planning and Analysis Cell ( PPAC) of the Union Petroleum Ministry has revealed this.
Diesel is the most consumed refined petroleum product in India. Diesel accounts for a little over 40% of all petroleum products consumed in India. It is followed by petrol, which has a share of around 17%. Other major petroleum products consumed in India include liquefied petroleum gas (LPG), naphtha, aviation turbine fuel (ATF), petroleum coke and bitumen, among others.
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As per the data, consumption of diesel rose 12.8% year-on-year (YoY) and 5% month-on-month (MoM) to 8.22 million tonnes in May. Petrol consumption in May was 3.35 million tonnes, up 11% YoY and 16.4% MoM. The previous record for diesel consumption was in April and for petrol, it was in March.
The country’s overall petroleum product consumption, a proxy for crude oil demand, rose 9% YoY and 8% MoM in May to 20.03 million tonnes. But it was lower than the record level of 20.50 million tonnes in March this year.
India is the world’s third-largest consumer of crude oil. India depends on imports to meet over 85% of its requirement. The country currently has a refining capacity of around 250 million tonnes per annum (MTPA).
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