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Petrol gross sales dropped to 1.17 million tonnes throughout the first half of October from 1.29 million tonnes a yr again. (Consultant picture)
Petrol gross sales by three state-owned gasoline retailers fall 9 per cent year-on-year, the primary drop in two months; diesel consumption drops 3.2 per cent
Petrol and diesel gross sales fell within the first half of October forward of the beginning of competition season that’s anticipated to spice up consumption, preliminary information of state-owned corporations confirmed. Final yr, Durga Puja/Dussehra in addition to Diwali fell in October. This yr the competition season, when consumption picks up, begins within the second half of October.
Petrol gross sales by three state-owned gasoline retailers fell 9 per cent year-on-year, the primary drop in two months. Diesel consumption dropped 3.2 per cent. The decline was largely due to the bigger base of final yr.
Petrol gross sales dropped to 1.17 million tonnes throughout the first half of October from 1.29 million tonnes a yr again. Gross sales dropped 9 per cent month-on-month as effectively.
Consumption of diesel, essentially the most consumed gasoline within the nation — accounting for about two-fifths of the demand, dropped to 2.99 million tonnes throughout October 1 to fifteen from 3.09 million tonnes a yr again. Month-on-month gross sales had been, nevertheless, up 9.6 per cent compared with 2.73 million tonnes within the first half of September.
Diesel gross sales sometimes fall in monsoon months as rains decrease demand within the agriculture sector which makes use of the gasoline for irrigation, harvesting and transportation. Additionally, rains gradual vehicular actions. This had led to a fall in diesel consumption within the final three months. And as soon as the monsoon ended, consumption has risen month-on-month.
Consumption of diesel had soared 6.7 per cent and 9.3 per cent in April and Could, respectively, as agriculture demand picked up and vehicles yanked up air-conditioning to beat the summer season warmth. It began to taper within the second half of June after the monsoon set in. It has continued to fall since. Suppliers’ group OPEC sees India’s oil demand increasing on common by 2,20,000 barrels per day on the again of vigorous financial development.
Consumption of petrol throughout October 1-15 was 12 per cent greater than within the COVID-marred October 2021 and 21.7 per cent greater than in pre-pandemic October 2019. Diesel consumption was up 23.4 per cent over October 1-15 in 2021 and 23.1 per cent in comparison with October 2019.
With the persevering with rise in passenger visitors at airports, jet gasoline (ATF) demand rose 5.7 per cent to 2,95,200 tonnes throughout first fortnight of October towards the identical interval final yr. It was 36.5 per cent greater than in October 1-15, 2021, however 6.6 per cent decrease than pre-COVID October 2019.
Month-on-month jet gasoline gross sales had been nearly 2 per cent decrease in comparison with 3,00,900 tonnes in September 1-15, 2023. Cooking fuel LPG gross sales had been up 1.2 per cent year-on-year at 1.25 million tonnes within the first half of October. LPG consumption was 10.6 per cent increased than in October 1-15, 2021 and 153 per cent greater than in pre-COVID October 2019.
Month-on-month, LPG demand fell 7.5 per cent towards 1.36 million tonnes of LPG consumption throughout September 1-15, the info confirmed.
(This story has not been edited by News18 employees and is revealed from a syndicated information company feed – PTI)
