India's demand for jet fuel in February surpassed pre-pandemic levels as increasing air travel boosted consumption, preliminary statistics from state-owned enterprises revealed on Friday.
In February, aviation turbine fuel sales by three state-owned fuel dealers increased by 7.1 per cent to 6,32,600 tonnes compared to the same period last year. This was 55.2% greater than consumption in Covid-marred February 2022, and slightly higher than the 6,32,100 tonnes demanded in February 2020, right before the pandemic began. Sales of jet fuel increased by 3.5 per cent month over month, according to the data.
India's fuel sales fell by much to 60% shortly after the country went into a strict lockdown in late March 2020, which closed both travel and enterprises.
Pre-covid Fuel Consumption
Petrol consumption, aided by greater use of personal means of transport, returned to pre-Covid levels in late 2021, while diesel sales reached pre-pandemic levels by mid-2022.
Given that not all foreign flights were resumed, jet fuel or ATF stocks stayed below pre-Covid levels. However, as a result of more flights leaving and more travelling, the monthly consumption has surpassed pre-pandemic levels.
In February, compared to the same month last year, the sales of petrol at three state-owned companies, which hold a 90 per cent share in the fuel market, increased by 7.2 per cent to 2.75 million tonnes. Meanwhile, the demand for diesel increased slightly by 0.4 per cent to 6.55 million tonnes. The need for air conditioning decreased as a result of the winter months in northern India.
Petrol sales increased by 6.2 per cent month on month, compared to 2.59 million tonnes consumed in January. In addition, the demand for diesel increased by 7.2% month over month to 6.11 million tonnes in January.
The most widely used fuel in India
In India, diesel fuel is the most widely used fuel, making up over 40% of all petroleum product usage. Seventy per cent of diesel sales in the nation are attributed to the transportation industry. Over the past few months, fuel use has fluctuated, going up in one month and down in another.
Petrol consumption in February 2022 was 20 per cent more than in February 2022 due to the COVID-19 epidemic, and it was 29.3 per cent higher than in February 2020 before the pandemic. In February 2022, diesel consumption increased by 13.6 per cent, while in February 2020, it increased by 7.4 per cent.
Sales of cooking gas LPG increased 6.6% to 2.71 million tonnes in February compared to the same month last year. February 2022 saw a 9.5 per cent increase in LPG consumption, whereas February 2020 saw a 25.9 per cent increase over pre-COVID levels. According to the report, LPG demand increased by 1.4 per cent month over month in January compared to 2.67 million tonnes of LPG usage.
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