India’s total consumption of petroleum products during FY’22 (April 2021-March 2022) rose modestly by 4% y-o-y to 202.7 million tonnes (mnt), CoalMint data revealed.
According to the latest figures available for March, consumption stood at 19.4 mnt, up by 4% on a y-o-y basis.
The total consumption of all petroleum products in the country includes domestic sales and imports. These products are used in various applications in different sectors like railways, steel, coal, power, cement, etc.
Product-wise consumption (in mnt):
Notably, HSD (high speed diesel), MS (motor spirit), LPG (liquified petroleum gas), naphtha and petcoke contribute to 81% of total petroleum products’ consumption.
*Quantity in mnt
(Source: Govt data, as per updated figures for CY and FY)
As per the data, the highest growth in consumption was seen for aviation fuels as it rose by 35% in FY22 due to increase in domestic and international flights.
The highest decline, on the other hand, was observed in naphtha falling by 13% in March amid reduced usage in the fertilizer industry.
Pet coke demand gains strength
After sharp fall in the last few months, the percentage share of pet coke recorded a 4% rise in March this year as procurement by cement manufacturers gained pace ahead of the monsoon season. However, on a cumulative basis, it fell by 10% due to the elevated prices since last year.
Pet coke is used mainly by the cement industry, lime kilns, steel and aluminum industries, calcium carbide and for gasification.
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