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India's fuel usage is predicted to go up by 2.7% in the upcoming fiscal year starting April 1, as per information from the Petroleum Planning and Analysis Cell (PPAC). This estimates the country's oil demand to reach 238.954 million tonnes, compared to the revised estimate of 232.561MT for the current fiscal year.
Specifically, the use of gasoline, primarily for passenger vehicles, is anticipated to rise by 5.4% to 39.2 million tonnes. Diesel consumption is expected to see a 2.7% increase, reaching 92.4 million tonnes. Aviation fuel consumption may surge by over 8%, reaching 9 million tonnes, surpassing the estimate of 8.3 million tonnes for the fiscal year ending March 2024.
Additionally, the demand for bitumen, used in road construction, is likely to increase by 3.4%. On the other hand, there is an expected 7.4% drop in naphtha demand. Petcoke, a more environmentally friendly alternative to coal, is projected to see a 4.1% increase, reaching 20.1 million tonnes. The demand for liquefied petroleum gas (LPG), used for cooking, is estimated to grow by 2.4%, reaching 30 million tonnes, according to PPAC data.
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