As a result, cumulative demand for diesel and gasoline rose 9.6% and 14.4% in the January-June period, respectively, PPAC data showed. In June, demand for diesel and gasoline rose 23.9% year on year and 23.2% year on year, respectively, reflecting health recovery in demand for transport fuels. “Based on the past trends, demand for diesel and jet fuel would likely account for a bigger part of the growth in demand in H2 as consumption of these two products had fallen sharply due to the pandemic,” he added. Provisional data from the Petroleum Planning and Analysis Cell showed that demand for oil products rose by 17.9% year on year to 18.67 million mt, or 4.9 million b/d in June, pushing up cumulative demand for oil products by 9.1% year on year to 109.7 million mt, or 4.8 million b/d, in the January-June period.Īmit Bhandari, Senior Fellow for Energy, Investment and Connectivity at Gateway House, said that more than 9% growth in oil consumption seen in H1 was because consumption grew from a lower base in the same period last year.
India’s robust oil consumption growth of nearly 18% year on year in June lifted cumulative first-half 2022 consumption growth close to double-digits, sending a strong signal that consumption recovery in on a sustained path towards pre-pandemic levels.īut analysts said since year-on-year growth rate in H1 2022 was due to a lower base in the same period of 2021, witnessing a similar rate of year-on-year growth in second half of this could prove difficult.
0 kommentar(er)
