HomeBusinessPetrol, diesel sales rise in September as festive season approaches

Petrol, diesel sales rise in September as festive season approaches

Petrol sales rose 13.2% to 2.65 million tonnes in September, compared to 2.34 million tonnes consumed in the same month last year.

Petrol sales rose 13.2% to 2.65 million tonnes in September, compared to 2.34 million tonnes consumed in the same month last year.

Petrol and diesel sales in India rose in September as economic activity picked up with the festive season and demand picked up by the end of the monsoon, preliminary industry data showed.

Petrol sales rose 13.2% to 2.65 million tonnes in September, compared to 2.34 million tonnes consumed in the same month last year. Sales were 20.7% higher than COVID-Mard September 2020 and 23.3% higher than pre-pandemic from September 2019.

However, the demand was 1.9% lower than the previous month of August 2022.

Diesel, the most widely used fuel in the country, saw a 22.6% increase in sales in September to 5.99 million tonnes as compared to the same month last year. Consumption was 23.7% higher as compared to September 2020 and around 15% higher than pre-Covid 2019.

The fuel, which saw sales decline by about 5% in August compared to the previous month of July, saw a 1.3% month-on-month increase in demand.

Industry sources said the demand for diesel has picked up due to the end of monsoon rains in most parts of the country and pick-up in the agricultural season. Rain typically restricts mobility and demand from the agricultural sector, which uses diesel in irrigation pumps and trucking.

Also, the approaching festive season saw a pick-up in economic activity and increased demand.

Auto fuel sales declined in July and August due to monsoon and lower demand. The decline came after a surge in June, which was supported by an increase in heat travel to cooler regions of the country and educational institutions to avoid holidays during the annual holiday.

As the aviation sector opened up, India’s overall passenger traffic at airports approached pre-Covid-19 levels.

Accordingly, the demand for jet fuel (ATF) during September increased by 41.7 per cent to 5,44,700 tonnes as compared to the same month last year. It was 81.3% higher than September 2020 but around 12% lower than pre-covid September 2019.

Sources said that while domestic air travel has returned to pre-Covid levels, international traffic is lagging due to the ongoing restrictions in some countries.

With strong economic growth of 7%, oil demand in India continues to rise as the country eases the pandemic lockdown.

LPG sales in September grew 5.4 per cent year-on-year to 2.48 million tonnes. LPG consumption was higher by 9.3% over September 2020 and 14.9% higher as compared to September 2019.

The data showed that the month-on-month demand grew by 4.26 per cent as compared to 2.38 million tonnes of LPG consumption during August.

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