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Tuesday, January 25, 2022

Fuel consumption witnessed the biggest decline after 22 years, 9.1 percent decrease Consumption

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According to the data released by the Petroleum Ministry, there has been a big decline in fuel consumption in the country. Other fuel consumption including petrol and diesel has come down due to Corona epidemic and lockdown.

Fuel consumption

Although the price of petrol and diesel may be increasing wildly, but in the last 22 years, the biggest decline in its consumption has been seen so far. According to the data released by the Petroleum Planning and Analysis Cell of the Ministry of Petroleum, for the first time since 1998-99, petroleum products have registered a decline of 9.1%. In the previous year 2019-20, where the fuel consumption was 194.63 million tonnes. At the same time, it reduced to 214.12 million tonnes in the year 2020-21.

According to the Petroleum Ministry, due to the strict lockdown and impact of the Corona epidemic that took place across the country last year, fuel consumption has come down. Fuel consumption has come down due to restrictions on transportation, including limited resources.

Bad impact on petrol and diesel

According to the data, during the last financial year, the consumption of diesel fell by 12 percent to 7.27 million tonnes. While the consumption of petrol fell by 6.7 per cent to 27.9 million tonnes. Similarly, a huge drop of 53.6 percent was recorded in the consumption of aircraft fuel and it was 37 lakh tonnes. Naphtha sales were almost the same as a year ago with 1.42 million tonnes. However, consumption of LPG increased during this period. Its demand has increased by 4.7% to 27.59 million tonnes. It was 26.33 million tonnes in the last financial year.

Condition deteriorated since March

Due to the growing outbreak of the Corona epidemic, all other businesses, including factories, came to a standstill due to the nationwide lockdown in March. During this time, all types of transportation, train and flight operations were also stopped. By June, the situation deteriorated due to a stringent ban. It also had a negative impact on the country’s economy. The first quarter saw a historic 23.9% decline in GDP. Later things started to become normal. However, with the second wave of Corona coming back, the country may face economic recovery again.

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Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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