Significant increase of 82 percent in annual consumption of LPG and 50 percent in ATF

New Delhi: Petrol consumption is increasing rapidly in the country. As the number of vehicles is increasing in the country, the consumption of petrol is also increasing. According to a recent report, petrol consumption has more than doubled in the last 10 years. At the same time, diesel consumption has increased by almost one third while the total demand for oil has halved.

The data shows that demand for fossil fuels remains despite policy pressure for EVs (electric vehicles) and renewable energy. According to data from the Ministry of Petroleum and Natural Gas, annual consumption of petrol is expected to increase by 117 per cent, diesel by 31 per cent, aviation turbine fuel by 50 per cent and petrol by 82 per cent between 2013-14 and 2023-24. ,

During this period, kerosene consumption has reduced by 93 percent. In the last decade, the preference for petrol-powered vehicles has also increased because after deregulation, diesel vehicles are not getting that much priority. One of the reasons behind the declining popularity of diesel vehicles is that petrol vehicles require less maintenance and now electric vehicles are available in hybrid variants.

Petrol demand may decline significantly going forward as petrol alternatives like CNG, ethanol and electric vehicles start playing a role in the mix, especially in the two-wheeler and three-wheeler segments, while diesel alternatives are non-existent in the market.