Wednesday, November 29th, 2023

Big news about petrol and diesel, record decline in demand; know the reason

Photo: File Petrol and Diesel

Petrol and Diesel: The consumption of petrol and diesel in the country declined in the first fortnight of July. This information has been received from the initial data of the industry. According to statistics, people have postponed their travel plans due to heavy rains in different parts of the country during monsoon. Apart from this, the demand for fuel in the agriculture sector has also decreased. This has affected the total demand of petrol, diesel. According to the data, the demand for diesel, the most consumed fuel in the country, declined by 15 per cent to 2.96 million tonnes during July 1-15. Diesel accounts for about 40 per cent of the total fuel demand. Diesel demand grew by 6.7 per cent and 9.3 per cent in April and May, respectively, on increased use of ‘ACs’ in vehicles in summer and a spurt in demand from the agriculture sector. The demand for this fuel started declining from the second fortnight of June with the onset of monsoon.

20 percent drop in diesel

On a monthly basis, diesel sales have declined by about 20 percent. During June 1 to 15, the sale of diesel was 36.8 lakh tonnes. Petrol sales also declined by 10.5 percent to 1.25 million tonnes during the period under review. Petrol sales decreased by 10.8 percent on a monthly basis. Both manufacturing and service sectors are growing in India, due to which the demand for fuel in the country is also increasing. Because of this, the demand for petrol and diesel increased in the second fortnight of March. However, with the advent of monsoon, the demand for these fuels has remained sluggish. Petrol consumption during the first fortnight of July 1st to 15th July is 12.5% ​​higher as compared to Covid affected July, 2021 and 16.6% higher than the pre-pandemic period 1st to 15th July, 2019.

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air travel expensive

Similarly, the consumption of diesel has increased by 10.1 percent from July 1 to 15, 2021, while it has decreased by 1.1 percent compared to the first fortnight of July, 2019. Aviation fuel (ATF) demand increased by 6.1 per cent to 3,01,800 tonnes during July 1-15 as compared to the same period last year, with a steady increase in air travel. This is more than double as compared to the first fortnight of July, 2021. However, compared to the pre-pandemic period July 1 to 15, 2019, it is 5.9 percent lower. On a monthly basis, jet fuel sales declined by about 6.7 percent. ATF sales during June 1 to 15 stood at 3,23,500 tonnes.

Industry officials said that in the last few months, the demand for fuel has been strong due to the increase in industrial activities in the country. The sale of cooking gas ie LPG has come down by 6.3 percent to 12.7 lakh tonnes on an annual basis. LPG consumption is six per cent higher than July 2021 and 3.7 per cent higher than the pre-pandemic period July 1 to 15, 2019. On a monthly basis, LPG demand grew by 3.8 per cent compared to 1.22 million tonnes in the first fortnight of June.

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