Monday, October 3, 2022

Petrol, diesel sales jump in May on driving holidays, farm demand

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NEW DELHI: India’s fuel sales rose steeply in May as people set out on driving holidays in the hills to escape the searing heat of the plains and economic activities expanded at a trot.
Petrol consumption rose nearly 56% and the sale of diesel, the fuel used the most, shot up 39% from a year ago, industry data shows. Diesel sales were also boosted by the harvesting season demand from the farm sector.
The growth in consumption looks healthier at nearly 76% and 41.5%, respectively, compared to May 2020. But compared to May 2019, data shows a modest increase of 12% in petrol sales, while diesel consumption still remains 2.3% short of the pre-pandemic level.
In a positive development for refiners, jet fuel sales rose 110% from a year ago on the back of increased air travel, while the growth stands at 401% over May 2020 when consumption had tanked 70%. As compared to May 2019, the jet fuel sales are still 16% lower than the pre-pandemic level.
LPG, or common household cooking gas, consumption rose a little more than 1% from a year ago, while it was 4.8% lower than sales in the same period of 2020 when stayed at home due to the lockdown, leading to more cooking. Compared to May 2019, however, the demand was 7.6% higher.





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