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Surge in LPG and Petrol use drives 7.4% growth in India’s oil demand
India witnessed a 7.4% increase in its petroleum product consumption in July 2024, totaling 19.65 million metric tonnes, according to the latest report from the Petroleum Planning and Analysis Cell (PPAC). This uptick is largely fueled by heightened economic activitiesand government infrastructure projects across the country.
Liquefied petroleum gas (LPG) usage saw the most significant rise at 10.1%, primarily driven by domestic consumption under government schemes such as the Pradhan Mantri Ujjwala Yojana. Petrol consumption also surged by 10.5%, reflecting increased demand for personal mobility, facilitated by relatively normal monsoonal patterns which reduced usual seasonal travel disruptions.
High-speed diesel, crucial for agriculture and freight, recorded a 4.5% increase, supporting ongoing rural activities and enhanced freight movement. Additionally, aviation turbine fuel consumption rose by 9.6%, buoyed by the recovery in air travel both domestically and internationally as pandemic-related restrictions eased further.
The report also highlighted a substantial growth in renewable energy, with India’s installed capacity increasing by 165% over the past decade to reach 148 gigawatts. This aligns with the nation’s commitment to sustainable energy development.
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