Fuel usage forecast cut by 1% to 155.63 MT for FY’13

India has cut its forecast for fuel consumption by about 1 per cent to 155.63 million tonnes in the current fiscal, mirroring slowdown in the economy.

Oil ministry's Petroleum Planning & Analysis Cell (PPAC), in a mid-term review, trimmed forecast for fuel consumption to 155.63 million tonnes in 2012-13 from previously projected 157.07 million tonnes. It projected a 5.2 per cent rise in fuel demand in the current fiscal over 148.13 million tonnes of petroleum product consumed in the previous year. Fuel consumption in 2011-12 had grown by about 5 per cent and PPAC had at the beginning of the fiscal projected a growth rate of 6 per cent in 2012-13.

The fuel demand revision, according to PPAC, is mostly on account of almost halving of growth in consumption of cooking gas (LPG) to 5.6 per cent.

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