New Delhi: India’s gas consumption noticed a major rise in February 2024, with the newest PPAC report highlighting an 8.6% improve in petrol demand and a 6.0% rise in diesel utilization in comparison with the identical month final 12 months.
Aviation turbine gas (ATF) jumped by 11.9%, and liquefied petroleum fuel (LPG) rose by 6.6%, it added.
The report illustrates India’s escalating power necessities, with important consumption development marking a restoration in financial and transport actions.
The compounded annual development price (CAGR) in comparison with pre-Covid ranges in February 2020 additionally indicated a outstanding restoration, particularly in LPG consumption, which is a necessary power supply for hundreds of thousands of households. The report highlighted a 25.90% CAGR for LPG, underscoring the nation’s shift in the direction of cleaner power sources.
From April 2023 to February 2024, cumulative figures confirmed a constant improve in consumption, with petrol rising by 6.3% and diesel by 4.3%. The ATF and LPG sectors additionally adopted this pattern, with 11.7% and eight.6% development respectively.
This surge is a testomony to India’s accelerating power wants and offers a constructive outlook for the oil and fuel business’s contribution to the nation’s financial development trajectory.
