India's annual petrol consumption doubles in a decade

The second-highest levels of petrol and diesel consumption were recorded in March 2024.

India’s petrol consumption has more than doubled over the past decade. According to data published by the Ministry of Petroleum and Natural Gas, the annual petrol consumption rose by 117% between 2013-14 and 2023-24.

Petrol is the fuel of choice for passenger vehicles in India. Sales of vehicles have shot up over the last decade, especially since the pandemic. The increasing demand for passenger vehicles has led to a sharp rise in demand for petrol as well.

Even though more and more consumers are opting for petrol-powered vehicles lately, diesel consumption has also gone up 31% over the last decade.

The second-highest levels of petrol and diesel consumption were recorded in March 2024. As per the data, total fuel demand in India stood at 4.99 million barrels per day (mbpd) in March, which is slightly lower than the 5.02 mbpd recorded in the same period last year. Petrol sales in March 2024 were up by 6.9% to 3.32 million tonnes, while diesel sales increased by 3.1% to 8.04 million tonnes.

India’s fuel demand reached a record high of 4.67 mbpd in FY2024, up from 4.48 mbpd. Petrol and diesel sales increased by 6.4% and 4.4% YoY, respectively.

Source: HT Auto