BANGKOK – The Ministry of Energy has forecast that energy consumption in the country will rise this year, as global oil prices continue to decline.
Energy Minister Gen Anantaporn Kanjanarat has revealed that average fuel consumption last year increased by 4.2% or 600,000 liters a day. Benzene was the most popular type of fuel used in Thailand.
Demand for Benzene increased by as much as 13.2%, as the prices of crude oil have plummeted by roughly 70 US dollars a barrel. However, demand for liquefied petroleum gas (LPG) decreased to 5.4% last year, after it became more expensive.
The Energy Minister added that energy consumption in 2016 is expected to rise by 3% from last year. The forecast is also in line with the projected GDP growth of 3-4%. The consumption of Benzene and diesel is expected to grow by 9.7% and 1.8%, respectively.
However, the consumption of LPG is expected to decline by 2.5%, while the consumption of NGV, or fuels used in natural gas vehicles, is expected to decline by 1% .
