India’s demand for jet fuel in February surged past pre-pandemic levels as increased air travel boosted consumption, preliminary data of state-owned firms showed on Friday.
Aviation turbine fuel sales by three state-owned fuel retailers soared 7.1% to 6,32,600 tonnes in February when compared with the year-ago period. This was 55.2% higher than the consumption in Covid-marred February 2022 and a shade better than the 6,32,100 tonnes demand in February 2020, just before the pandemic set in.
Month-on-month jet fuel sales were up 3.5%, the data showed.
India’s fuel sales had plunged by as much as 60% soon after India went under a stringent lockdown in late March 2020, shuttering travel as well as businesses.
Petrol consumption, helped by increased use of personal modes of transportation, was first to return to pre-Covid levels in late 2021 while diesel sales reached pre-pandemic levels in mid-2022.
Jet fuel or ATF remained below pre-Covid levels as not all international flights resumed. But now on the back of increased flight departures and passenger footfall rising, the monthly consumption is above pre-pandemic levels.
Petrol sales of three state-owned firms, which control 90% of the fuel market, soared 7.2% to 2.75 million tonnes in February when compared to the year-ago period, while diesel demand inched up marginally by 0.4% to 6.55 million tonnes.
The winter season in northern India led to the tapering of air-conditioning demand.
Month-on-month petrol sales were 6.2% higher when compared to 2.59 million tonnes consumption in January. Diesel demand too rose by 7.2% month-on-month against 6.11 million tonnes in January.
Diesel is India’s most consumed fuel, accounting for almost 40% of all petroleum product consumption. The transport sector accounts for 70% of all diesel sales in the country.
Fuel consumption has been on a see-saw over the last couple of months, rising in one month and falling in another.
Consumption of petrol during February was 20% more than in the Covid-marred February 2022 and 29.3% more than in pre-pandemic February 2020.
Diesel consumption grew 13.6% over February 2022 and 7.4% compared to February 2020.
Cooking gas LPG sales too were up 6.6% to 2.71 million tonnes in February when compared to the year-ago period. LPG consumption was 9.5% higher than in February 2022 and 25.9% more than in pre-Covid February 2020.
Month-on-month, LPG demand rose 1.4% against 2.67 million tonnes of LPG consumption during January, the data showed.
