Domestic consumption of petroleum products fell 9.1 percent year-on-year to 194.7 million tonnes (MT) in FY 2021. This is mainly due to lower sales of transportation fuel in the fiscal year amid a nationwide lockdown for prevention of corona virus. Petroleum sales fell for the first time since FY99, for which data is available with the Government’s Petroleum Planning and Analysis Cell (PPAC).
Diesel use dropped by 11.9%
Diesel usage, which comprises 40 percent of total product sales, fell 11.9 percent to 72.7 MT in FY 2021. Whereas, the demand for petrol has fallen by 6.7 per cent to 27.9 MT.
Aviation Turbine Fuel (ATF) fell by 53.2 per cent to 3.7 MT in the financial year. This was due to the global travel restrictions imposed due to the persistence of the corona virus in many countries. According to the government’s target of increasing the share of gas in the economy, the use of liquid petroleum gas (LPG) grew by 4.9 per cent on an annual basis to 27.6 MT in FY 2021. The consumption of bitumen, mostly used in road construction, increased by 5.9 percent to 7.1 MT on an annual basis.
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Total product consumption increased 18.2 percent year-on-year in March. Whereas, diesel usage rose to 7.2 MT with an increase of 27.6 per cent. The figures for March are comparable to the same month of FY 2020, when a nationwide lockdown was implemented for the first time.
Domestic consumption of petroleum products increased by only 0.4 per cent to 214.1 MT on an annual basis in FY 2020.