January petroleum product consumption slips 0.6%

Domestic consumption of petroleum products in January slipped 0.6% year-on-year (y-o-y) to 18.4 million tonnes (MT), mostly on the back of lower sales of diesel, bitumen and fuel oil. According to provisional data by the government’s petroleum planning and analysis cell (PPAC), diesel usage dipped 1.9% to 6.9 MT. In line with the government’ target of increasing the share of gas in the economy, liquefied petroleum gas (LPG) usage was up 6.1% y-o-y to 2.5 MT in January. Petroleum consumption was up 3.5% to 2.5 MT.