Growth in fuel consumption said to be in line with projected GDP increase

By THE NATION

 

 

Based on the Department of Energy Business’s estimates, the consumption of fuel in Thailand is expected to rise 4 per cent this year mainly because the drop in the price of refined oil has increased the use of automobiles.

 

 

This growth in consumption is in line with the Office of National Economics and Social Development Council’s forecast of 3 per cent growth of the gross domestic product this year, Nantika Thangsuphanich, the department’s director-general, said. 

 

The consumption of benzene this year is expected to hit 32.19 million litres daily, recording a 3.7-per-cent increase year on year, while diesel consumption should hit 71.68 million litres a day, rising 7.6 per cent year on year.

 

The consumption of fuel by natural gas vehicles (NGV) is expected to be 5.58 million kilograms a day, down 8.5 per cent year on year, while liquefied petroleum gas (LPG) consumption has been projected at 16.95 million kg per day, down 5.1 per cent year on year. Meanwhile, consumption of jet fuel is expected to hit 20.48 million litres daily, up 6.7 per cent year on year.

 

The department is currently following up on and evaluating the consumption of diesel and asked oil retailers to boost the sale of B10 diesel since October 1. The department wants B10 diesel to be available at petrol stations across the nation by March 2020, and hopes the consumption of this fuel will hit 57 million litres daily. It also hopes the consumption of B20 diesel to reach 5 million litres a day, B7 diesel 5 million litres daily and B100 to be 7 million litres daily. 

 

The department will also talk to oil traders and refinery groups about the possibility of stopping the use of certain types of benzene, though Nantika did not specify the types. 

 

Thai consumers currently use nine types of fuel, five of which are benzene and four diesel. 

 

She added that terminating the use of one type of benzene will require the taking into account of many factors that could affect refineries. The discussion with oil traders and refineries is expected to be wrapped up in the next couple of months. 

 

Nantika also said that whether the use of Gasohol 91 is stopped depends on the department’s ongoing evaluation of the impact it has on old-fashioned motorcycles.

 

Source: https://www.nationthailand.com/business/30377084

 

-- © Copyright The Nation Thailand 2019-10-05

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8 hours ago, rooster59 said:

Growth in fuel consumption said to be in line with projected GDP increase

As the GDP growth rate has been contracting,

8 hours ago, rooster59 said:

the consumption of fuel in Thailand is expected to rise 4 per cent this year

The conclusion makes no sense with regard to projected GDP growth increase.