Petrol sales at 2.65 million tonnes in March

3 Apr 2023 , 08:24 AM

According to preliminary industry statistics released on Sunday, India’s gasoline demand increased in March as an uptick in agricultural output helped to counteract a downturn that was seen in the first half of the month. 

Fuel sales reached record highs in February as a result of strong demand from the agricultural industry and the recovery of the transportation sector from the winter slump. Yet in the first half of March, a seasonal slowdown began.

Notwithstanding the high base of February, there was a pick-up in the second half that allowed sales to increase even month over month. In comparison to the same month last year, petrol sales increased 5.1% to 2.65 million tonnes in March. The report showed that on month-on-month basis, sales were up 3.4%.

When compared to sales of 6.67 million tonnes in the same month last year, demand for diesel, the most popular fuel in the nation, increased by 2.1% to 6.81 million tonnes in March.

The demand increased by 4.5% month over month. Sales of petrol had decreased 1.4% while those of diesel had increased by 10.2% in the first half of the year. Petrol consumption in March was 16.2% higher than in COVID-wracked March 2021 and over 43% more than during the same period in 2020.

The amount of diesel consumed in March 2022 was up 13.5% from March 2021 and 41.8% from March 2020. With the aviation industry’s continued liberalization, pre-COVID airport passenger volumes were gradually reached in India.

Jet fuel (ATF) consumption increased 25.7% to 614,000 tonnes in March compared to the same month last year, reflecting the general trend. In comparison to March 2021 and March 2020, it was 41.9% greater in March 2021. Sales increased 4.54 percent month over month.

The recovery in India has accelerated recently, although this has been accompanied by high inflation. Ever since the COVID-19 limits were loosened, the nation’s oil demand has been continuously increasing.

The recovery in India has accelerated recently, although this has been accompanied by high inflation. Ever since the COVID-19 limits were loosened, the nation’s oil demand has been continuously increasing.

Sales of cooking gas LPG decreased by 3% from the prior year to 2.37 million tonnes in March. The amount of LPG consumed in March was 9% greater than in March 2021 and 5.8% higher than in March 2020. The data showed that demand decreased by 6.54% on a monthly basis in comparison to February’s consumption of 2.54 million tonnes of LPG.

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