Indian road fuel demand to grow 13% on the year for 2021-2022 fiscal year

摘要

The Indian oil ministry forecasts that during the fiscal year from April 2021 to March 2022,diesel demand will rise 13.3% from the previous fiscal year to 1.7MM b/d while gasoline consumption will rise by 13.2% over the same period to 726K b/d.By comparison,demand for diesel and gasoline averaged 1.72MM b/d and 696K b/d,respectively,during the 2019 calendar year,which was prior to the onset of the coronavirus pandemic.The ministry is also forecasting jet fuel demand to increase by 74% year-on-year to 81K b/d during the 2021-2022 fiscal year,which will still be 21% below 2019 levels.LPG consumption is expected to be 5% higher compared to the previous fiscal year at 29MM mt.Naphtha demand is also expected to see an increase,rising 2% on the year to 372K b/d.However,demand for fuel oil is projected to be 6% lower compared to the 2020-2021 fiscal year at 99K b/d.