WPB indicates India's overall fuel consumption to have recorded a significant decline over the recent period, with bitumen demand also plummeting significantly. India's overall fuel consumption fell by over 4% from the previous period to about 19.43 million metric tons.
Bitumen, a critical material used in road construction, recorded the largest drop of all the petroleum products, declining by 32% compared to earlier levels. This steep fall is reflective of reduced infrastructure activity, perhaps brought about by cyclic weather patterns that usually impact construction schedules.
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Diesel fuel, the second major fuel category, fell 9% to 7.36 million metric tons. Less demand for diesel is generally due to reduced draw by the farm sector in monsoon months and reduced transportation activity. These seasonal demands may also explain a weakened demand for jet fuel, with an indirect impact on flight operations.
The gasoline sales were quite stable, registering a minor drop of less than 1%, although volumes remained higher compared to the corresponding period last year. On the other hand, cooking gas (LPG) intake grew over 10% compared to the previous month, while naphtha registered a modest 2% decrease.
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As a whole, year-to-year comparisons also indicate a declining trend in overall fuel demand, with current volumes trailing behind those of the same time last year. Bitumen, in particular, is one of the most severely impacted segments in this aspect.
Market analysts say that such short-term volatility is largely cyclical, and demand — including bitumen demand — will pick up in subsequent quarters as economic activity strengthens and weather cools for road construction and industrial consumption.
By Bitumenmag
Bitumen, Oil, Market
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