Diesel sales in India fell 3 per cent in September as a receding monsoon continued to dampen demand and slowed industrial exercise in some components of the nation, preliminary information of state-owned corporations confirmed. While diesel sales by three state-owned gasoline retailers fell year-on-year, petrol sales rose in September.
Consumption of diesel, essentially the most consumed gasoline in the nation — accounting for about two-fifths of the demand, fell to five.81 million tonnes in September from 5.99 million tonnes demand in the identical interval a 12 months in the past. Demand dipped by over 5 per cent in the primary half of September, and consumption picked up in the second half as rains receded.
Month-on-month sales have been up 2.5 per cent when in comparison with 5.67 million tonnes of diesel consumed in August. Diesel sales usually fall in monsoon months as rains decrease demand in the agriculture sector, which makes use of the gasoline for irrigation, harvesting and transportation. Also, rains sluggish vehicular actions.
Consumption of diesel had soared 6.7 per cent and 9.3 per cent in April and May, respectively, as agriculture demand picked up and automobiles yanked up air-conditioning to beat the summer time warmth. It began to taper in the second half of June after the monsoon set in. Petrol sales have been up 5.4 per cent to 2.8 million tonnes in September when in comparison with the identical interval final 12 months. Consumption progress was virtually flat in August. Sales in September have been up 5.6 per cent month-on-month, the info confirmed.
Macroeconomic information suggests a broad-based enlargement throughout all sub-sectors of the financial system, with the providers sector persevering with to put up sturdy progress throughout monetary, actual property and authorities providers. India’s financial system has demonstrated sturdy resilience and is more likely to have surpassed the efficiency of most main economies throughout the first half of 2023.
Industry sources stated with regular and wholesome financial exercise and the continuing air journey restoration, India’s oil demand is projected to rise in the rest of the 12 months. Suppliers group OPEC sees India’s oil demand increasing on common by 2,20,000 barrels per day on the again of vigorous financial progress.
Consumption of petrol throughout September was 19.3 per cent greater than in the COVID-marred September 2021 and 30 per cent greater than in pre-pandemic September 2019. Diesel consumption was up 19 per cent over September 2021 and 11.5 per cent in comparison with September 2019.
With the persevering with rise in passenger visitors at airports, jet gasoline (ATF) demand rose 7.5 per cent to five,96,500 tonnes throughout September towards the identical interval final 12 months. It was 55.2 per cent greater than in September 2021, however 3.55 per cent decrease than pre-COVID September 2019.
Month-on-month jet gasoline sales have been virtually flat in comparison with 5,99,100 tonnes in August 2023. Cooking fuel LPG sales have been up 6 per cent year-on-year at 2.67 million tonnes in September. LPG consumption was 11.4 per cent increased than in September 2021 and 23.3 per cent greater than in pre-COVID September 2019.
Month-on-month, LPG demand soared 7.3 per cent towards 2.49 million tonnes of LPG consumption throughout August, the info confirmed.
(with inputs from PTI)
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