Thursday, February 22nd, 2024

Petrol-Diesel Price: Heavy fall in the sale of petrol and diesel, will the price be reduced now?


New Delhi: In the first 15 days of June, there has been a decline in the sale of petroleum products in the country. Along with petrol and diesel, the sale of LPG has also come down. This has happened due to reduced demand for petrol and diesel for agriculture and reduced traffic activities with the arrival of monsoon. This information has been obtained from industry statistics. Demand for diesel, the country’s most consumed fuel, declined 6.7 per cent year-on-year to 3.43 million tonnes in the first fortnight of June. Earlier, diesel sales had increased by 6.7 percent in April and 9.3 percent in May due to increased demand from the agricultural sector. On a monthly basis, diesel sales grew by 3.4 per cent in the first fortnight of June. During May 1 to 15, diesel sales stood at 3.31 million tonnes. Similarly, petrol sales fell 5.7 percent year-on-year to 1.3 million tonnes from June 1 to 15. Its sales fell by 3.8 percent on a month-on-month basis. Petrol and diesel sales had picked up since the second fortnight of March on increased industrial and agricultural activities. But the arrival of monsoon has brought down the temperature and diesel sales have declined in the first fortnight of June due to reduced use of diesel gensets for farm irrigation and reduced consumption by tractor-trucks. Petrol consumption during June 1 to 15 was 44.2 percent higher than June 2021 in the COVID-19 pandemic and 14.6 percent higher than pre-pandemic June 1 to 15, 2019. Diesel consumption was higher by 38 per cent as compared to June 1 to 15, 2021 and by 8.8 per cent as compared to the first fortnight of June, 2019.

Center gave indications of reduction in the price of petrol and diesel, but the price increased in Punjab, know how much the rate has become

LPG sales also decreased

With the aviation sector continuing to be active, air travel levels in India at airports are nearing pre-Covid levels. According to the data, aviation fuel (ATF) demand rose 2.6 per cent year-on-year to 290,000 tonnes in the first fortnight of June. This is 148 percent more than the figures for June 1-15, 2021, but 6.8 percent less than June 1-15, 2019. Aviation fuel demand declined by 3.9 per cent from 3,01,900 tonnes for May 1-15, 2023. The Indian economy has gained momentum after a boom in public and private capital investment. The manufacturing sector has also boomed while the service sector has strengthened.

Officials said fuel demand in the country was being supported by strong industrial activity in the past few months. The sale of cooking gas LPG decreased by 1.3 percent year-on-year to 1.14 million tonnes from June 1 to 15. LPG consumption is 3.3% higher than June 1-15, 2021 and 26.7% higher than the pre-Covid figure June 1-15, 2019. On a monthly basis, LPG gas demand fell by 6.2 per cent. The demand for LPG was 1.22 million tonnes on May 1-15, 2023. There has been no change in the price of petrol and diesel in the country for more than a year.

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