India’s fuel consumption saw a robust uptick in November 2024, with key sectors demonstrating continued recovery and growth, according to provisional data from the Petroleum Planning & Analysis Cell (PPAC). Petrol sales surged by 9.2% year-on-year, reaching 3,418 thousand metric tonnes (TMT), while diesel, the country’s most consumed fuel, rose by 8.4%, totaling 8,158 TMT.
The aviation turbine fuel (ATF) segment showed a strong rebound, with a 7.7% increase in consumption, reaching 743 TMT. This growth highlights the sustained recovery in air travel as demand for flights continues to rise. Similarly, liquefied petroleum gas (LPG), a staple in households across India, recorded a 7.3% rise in demand, totaling 2,765 TMT. This growth reflects steady usage in both residential and industrial sectors.
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Across the board, all major petroleum products experienced year-on-year growth in November. Compared to November 2023, petrol consumption rose by 19.5%, while diesel consumption increased by 5.1%. The ATF segment saw the most significant growth, expanding by 20.2% over the two-year span, indicating a robust recovery in the aviation sector post-pandemic. LPG consumption grew by 6.3% compared to November 2022 and an impressive 22.36% compared to pre-COVID levels in November 2019. The segment also posted a compounded annual growth rate (CAGR) of 4.12%.
Petrol and diesel also showed strong growth compared to pre-pandemic levels. Petrol consumption increased by 34.83% (CAGR: 6.16%), while diesel rose by 7.83% (CAGR: 1.52%).
Despite the growth across various fuel types, diesel continued to dominate the fuel basket. Its 8.4% year-on-year growth reflects increased activity in transportation and industrial operations, sectors driving much of the demand.
An energy expert commented on the trends: “The PPAC report highlights India’s growing energy demand across sectors, driven by economic activity and a rebound in travel and industrial consumption. The steady rise in fuel consumption signals a strong recovery, with energy demand surpassing pre-pandemic levels in most segments.”
In conclusion, the data underscores India’s continued economic recovery and growing energy needs, with fuel consumption expanding steadily across multiple sectors.