New Delhi: The annual rate of growth of petroleum fuels, diesel and petrol, is expected to slow down in the next financial year, beginning April 2024. Data released by the Petroleum Planning and Analysis Cell (PPAC) revealed this.
As per PPAC data, India’s diesel consumption for FY25 is expected at 92.44 million tonnes (MT). This is a growth of 2.67 per cent compared to FY24. PPAC’s revised estimate for FY24 puts diesel usage at 90.04 MT. Diesel accounts for more than 40 per cent of the refined petroleum products consumption in India.
Diesel consumption in FY24 rose to 4.82 per cent from 85.90 mt in FY23. The annual growth rate of diesel in FY23 was at 12.10 per cent, compared to 76.66 mt in the Covid-impacted FY22. FY23 is the only year in more than two decades where diesel consumption grew in double digits — the highest so far both in terms of quantity and growth rate.
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Petrol consumption in FY25 is projected to grow by 5.40 per cent to 39.21 mt. This is against an annual growth rate of 6.35 per cent in FY24. PPAC expects petrol usage in the current financial year at 37.20 MT. In FY23, petrol consumption grew by 13.4 per cent from 30.85 mt in FY22.
PPAC estimates that consumption of aviation turbine fuel (ATF) will grow by 7.9 per cent in FY25 to hit 9 mt, which is lower than the annual growth rate in FY24 (13 per cent). Airlines are estimated to consume 8.34 mt of jet fuel in the current fiscal year. In FY23, jet fuel consumption surged by 47.6 per cent to 7.38 mt from 5 mt in FY22.
During the April-December period in FY24, the consumption of diesel, petrol and ATF stood at 66.76 mt, 27.77 mt and 6.07 mt, respectively.
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