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Diesel sales dropped in June as the arrival of monsoon lower demand in the agri sector and decreased vehicular motion, preliminary trade knowledge confirmed.
Demand for diesel, essentially the most consumed gasoline in the nation – accounting for about two-fifths of the entire demand, fell 3.7% to 7.1 million tonnes in June in comparison with the year-ago interval.
Diesel sales had soared 6.7% and 9.3% in April and May, respectively, as agriculture demand picked up and vehicles yanked up air-conditioning to beat summer season warmth.
Month-on-month sales have been nearly flat in comparison with 7.09 million tonnes of diesel consumed in May.
Petrol sales, nevertheless, rose 3.4% to 2.9 million tonnes in June 2023 in comparison with the year-ago interval. Sales have been unchanged month-on-month, the information confirmed.
Also learn: Diesel sales soar on agricultural demand
Petrol and diesel sales have been on the rise because the second half of March on the again of a pick-up in industrial and agriculture exercise. But the arrival of monsoon has cooled temperatures and decreased demand for operating diesel gensets to irrigate fields and lower down consumption in tractors and vans in the primary half of June.
Petrol consumption throughout June was 33.5% greater than COVID-marred June 2021 and 20.6% greater than pre-pandemic June 2019.
Diesel consumption was up 30% over June 2021 and 6.5% greater than in June 2019.
With the aviation sector booming with summer season travellers, jet gasoline (ATF) demand soared 6% to 587,300 tonne in June in comparison with the identical interval final 12 months. It was 140% greater than in June 2021 however 4.6% decrease than pre-Covid June 2019.
Month-on-month sales fell 2.4% in opposition to 6,02,000 tonnes in May 2023.
The Indian economic system has gained tempo with a pick-up in authorities and personal capital spending. Manufacturing too has picked up, whereas the providers sector has been strong.
The nation’s oil demand throughout the previous few months was supported by robust industrial exercise, trade officers stated.
Cooking fuel LPG sales have been down 0.8% year-on-year to 2.27 million tonnes in June. LPG consumption was nearly flat in comparison with June 2021 and 28.5% greater than pre-COVID June 2019.
Month-on-month, the demand fell 3.4% in comparison with 2.36 million tonnes of LPG consumption throughout May, the information confirmed.
