Petrol sales increase in August; that of diesel go down

Petrol demand stood at 2.81 million tonnes in August

September 02, 2022 7:59 IST | India Infoline News Service

Preliminary industry data showed that while petrol sales increased in August in India, diesel sales remained down from the previous month as rains in various regions reduced demand in some industries.

In contrast to the 2.66 million tonnes of demand in July, petrol sales, which had decreased by 5%, grew by 5.8% to 2.81 million tonnes in August.

Nearly 16% more was consumed in August 2020 than in August 2021, and 31.7% more was consumed than in August 2020 when 2.14 million tonnes were consumed. In August 2019, it was 20.6% more than the pre-pandemic demand of 2.33 million tonnes.

Diesel, the most popular fuel in the nation, witnessed a 4.9% decline in usage from 6.42 million tonnes in July to 6.11 million tonnes.

The country's need for diesel is significantly impacted by the monsoon season, and generally, July through September sees lower usage than April through June. The agricultural industry, which uses diesel in irrigation pumps and transportation, is constrained in its mobility and demand.

However, despite robust economic development and a low baseline for the same time in 2021, when the second wave of COVID-19 had an impact on the economy, diesel consumption in August was 23.5% higher year over year.

The statistics showed that the demand for diesel was 43.4% greater than the demand for 4.26 million tonnes in August 2020 and 11.6% higher than the pre-COVID sale of 5.48 million tonnes in August 2019.

India has had a robust economic growth of 7.1%, and since easing epidemic lockdowns, its oil demand has been continuously increasing.

Sales of cooking gas LPG increased 5% from the previous year to 2.44 million tonnes in August. LPG use increased by 7% compared to August 2020 and by 2.5% compared to August 2019.

According to the report, the demand decreased 1% month over month when compared to the 2.46 million tonnes of LPG consumed in July.

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