Demand for diesel saw a temporary year-on-year rise in October ahead of the country s festival season
The country s diesel sales fell 2.3 per cent year-on-year in January, their slowest pace of decline in three months, preliminary data showed on Tuesday, indicating a gradual recovery in industrial growth in Asia s third-largest economy. Local diesel sales by state-run refiners have been falling since March when coronavirus-related restrictions slammed industrial activity and mobility. However, demand for diesel saw a temporary year-on-year rise in October ahead of the country s festival season. Diesel consumption, a key indicator of economic growth that accounts for about 40 per cent of overall refined fuel sales in India, totalled 6.04 million tonnes in January, the data compiled by state retailers showed.
tmrFebruary 1, 2021
Aerospace and Defense Fuel Market: Overview
The aerospace and defense fuel market may record a stable growth across the forecast period of 2019-2028 due to a plethora of factors, with the growing numbers of economical aircraft in the aviation industry being one of the prime factors. According to some statistics, air traffic may increase considerably across the forecast period barring the COVID-19 lockdown period.
The SARS-CoV-2 outbreak has disrupted the global aviation industry and has a direct impact on the growth rate of the aerospace and defense fuel market. The post-lockdown era may hopefully see the aerospace and defense fuel market on the greener side as international travel resumes when countries ease border restrictions. Meanwhile, the defense sector continues to boost the growth of the aerospace and defense fuel market as the demand for surveillance aircrafts increases.
It’s set to be a slow crawl back to pre-virus levels for Indian energy demand with diesel, the most-used fuel, holding back the recovery. While demand for diesel, which accounts for around 40 per cent of Indian fuel use in a normal year, rebounded quickly after the the world’s biggest lockdown was imposed in March, the recovery has since slowed. The annual growth rate for diesel consumption won’t get back to pre-virus levels until the year ended March 2022, said Mukesh Kumar Surana, chairman of Hindustan Petroleum Corp. Used in factories, construction and agriculture as well as powering the truck and bus fleets, diesel is a bellwether of industrial activity in India and its tepid recovery reflects an economy still struggling to shake off the crippling effects of the pandemic. Gasoline demand, by contrast, is being buoyed by people opting to use private cars and motorcycles to avoid being exposed to Covid-19.
Weak diesel demand signals a slow rebound for industrial India
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Weak diesel demand signals a slow rebound for industrial IndiaBy Saket Sundria and Debjit Chakraborty, Bloomberg
Last Updated: Jan 29, 2021, 01:38 PM IST
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Synopsis
Used in factories, construction and agriculture as well as powering the truck and bus fleets, diesel is a bellwether of industrial activity in India and its tepid recovery reflects an economy still struggling to shake off the crippling effects of the pandemic. Gasoline demand, by contrast, is being buoyed by people opting to use private cars and motorcycles to avoid being exposed to Covid-19.
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Greater use of fuels like liquefied natural gas and compressed natural gas in transport means diesel is unlikely to be as dominant in the Indian energy mix as it was before Covid-19.
REFINERY NEWS ROUNDUP: Gasoline output up in India; Petron’s Bataan plans temporary halt
India’s gasoline output climbed to a 14-month high in December, ending 2020 at pre-pandemic levels, as robust domestic demand spurred refiners to increase production of the motor fuel.
Gasoline production at the world’s third-largest energy consumer rose to 3.341 million mt in December, up marginally by 0.36% from the previous month, the latest data from the Petroleum Planning and Analysis Cell showed. December was the fourth straight month of increase in India’s gasoline production, the data showed. The rise in production comes amid strong domestic demand for gasoline, which has been backed by easing pandemic-related lockdowns as well as the resumption of driving activity over the fourth-quarter holiday season.