Even as air passenger traffic and commercial flight volumes have now exceeded pre-pandemic levels, jet fuel demand has still not fully recovered and is expected to normalise only by the January-March quarter of 2024, as per a forecast by S&P Global Commodity Insights (SPGCI). The reason behind the anomaly is a slower recovery in long-haul international flights, the worst-hit travel segment during the pandemic.
According to the data released by the Petroleum Planning & Analysis Cell of the Ministry of Petroleum and Natural Gas, India’s jet fuel consumption in January-June this year was 3.94 million tonnes. In the first six months of 2019, it was 4.07 million tonnes.
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