Sunday, June 4th, 2023

Petrol, diesel being sold indiscriminately amid rising inflation, read full report

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Amidst rising inflation...- India TV Hindi News
Photo:PTI (FILE PHOTO) Petrol being sold indiscriminately amid rising inflation

Highlights

  • Diesel demand affected due to rain
  • LPG sales increase
  • Petrol sales in the country increased in August

in country Petrol sales increased in August, but Diesel Demand continues to decline. The reason for this is due to rain in many parts of the country, demand has been affected in some areas. As per preliminary industry data, petrol sales rose 5.8 per cent to 28.1 lakh tonnes in August, while it declined five per cent to 26.6 lakh tonnes in July.

According to the data, Petrol The consumption is about 16 percent higher than August 2021 and 31.7 percent higher than August 2020. Petrol consumption in August 2020 was 21.4 lakh tonnes. This is 20.6 percent more than the pre-pandemic ie 23.3 lakh tonnes in August 2019. Consumption of diesel, the most widely used fuel, declined by 4.9 per cent to 61.1 lakh tonnes in August from 6.42 million tonnes in July.

Diesel demand affected due to rain

The demand for diesel has been affected due to monsoon rains. Traditionally, consumption is less in July-September as compared to April-June. With the movement of rains, the demand in the agriculture sector also decreases. Diesel demand had declined by 13.1 per cent in July. According to the data, diesel consumption in August is 23.5 per cent higher on a year-on-year basis. At the same time, it is 43.4 percent more than 42.6 lakh tonnes in August 2020. Whereas it is 11.6 percent more than 54.8 lakh tonnes in pre-Covid i.e. August 2019. Earlier in the month of June, the consumption of diesel had increased.

Record demand in aviation sector

With increased movement in the aviation sector, demand for aviation fuel more than doubled to 5,41,000 tonnes in August from the previous month. This is 51.4 per cent higher than the corresponding month of last year and 118.9 per cent higher as compared to August 2020. However, this pre-Covid level is 14.3 per cent lower as compared to August 2019.

LPG sales increase

According to the data, LPG sales in August grew by five per cent year-on-year to 2.44 million tonnes. It is 7 percent higher than August 2020 and 2.5 percent higher than August 2019. LPG demand on a monthly basis remained low by one per cent. In July this year, the demand for this fuel stood at 24.6 lakh tonnes.

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