India’s petrol and diesel gross sales soared in June on the again of the beginning of cropping season, summer season travels and total decide up in financial exercise, preliminary business information confirmed. The begin of the cropping season helped diesel demand register a double-digit development over the pre-pandemic interval — a document lately.
Diesel, the most-used gas within the nation, noticed gross sales leaping 35.2 per cent year-on-year to 7.38 million tonnes in June. This was 10.5 per cent greater than gross sales in pre-pandemic June 2019 and 33.3 per cent greater than June 2020. It was 11.5 per cent greater than 6.7 million tonnes of consumption throughout May this 12 months.
Industry sources attributed the decide up in diesel demand — which first rose above pre-pandemic ranges in April — to greater consumption by the agriculture and transport sectors.
Petrol gross sales by state-owned gas retailers, which management roughly 90 per cent of the market, at 2.8 million tonnes in June have been 29 per cent greater than the identical interval final 12 months when a devastating second COVID-19 wave wreaked havoc on the financial system.
This consumption was 36.7 per cent greater than the demand in June 2020 and 16.5 per cent greater than 2.4 million tonnes of gross sales within the pre-COVID June 2019. Month-on-month gross sales have been up 3.1 per cent, as per the preliminary information. Sources mentioned consumption in June was helped by the low base impact of final 12 months. Consumption has been on the rise since May when annual summer season holidays led to greater travels.
April noticed consumption drop as a consequence of a Rs 10 per litre hike in petrol and diesel costs after an over four-month hiatus. The authorities had on March 25, 2020 imposed a nationwide lockdown to manage the unfold of coronavirus. The full lockdown, which halted mobility and crippled enterprise, was slowly eased after two months.
Cooking gasoline, whose costs have been hiked by Rs 103.50 per cylinder since March, noticed gross sales rising by a marginal 0.23 per cent to 2.26 million tonnes in June.
This was 9.6 per cent greater than the consumption in June 2020 when the federal government prolonged free cooking gasoline to the poor to assist them tide over the hardships of the lockdown. LPG consumption was 27.9 per cent greater than June 2019 demand and 6 per cent greater than 1.77 million tonnes of gross sales in June 2021. Jet gas (ATF) gross sales greater than doubled to 535,900 tonnes because the aviation sector opened up after two years.
ATF consumption was 150.1 per cent greater than June 2020 however 12.9 per cent decrease than the pre-COVID gross sales of 615,400 tonnes in June 2019. Month-on-month gross sales have been up 6 per cent
Source: www.financialexpress.com”