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Petrol and diesel sales in India noticed a double-digit year-on-year growth in November as elevated demand from the agriculture sector helped construct on the momentum generated by the festive season, preliminary trade information confirmed on Thursday.
Petrol sales soared 11.7 per cent to 2.66 million tonnes in November, as in comparison with 2.38 million tonnes of consumption in the identical month final yr.
Sales had been 10.7 per cent greater than in COVID-marred November 2020 and 16.2 per cent greater than in pre-pandemic November 2019.
Month-on-month, the demand was up 1.3 per cent on the high-base festive season created in October.
Diesel, essentially the most used gas in the nation, posted a 27.6 per cent rise in sales in November to 7.32 million tonnes, as in comparison with the identical month final yr.
Consumption was up 17.4 per cent over November 2020 and 9.4 per cent greater than pre-COVID 2019.
The gas has seen an increase in sales month-on-month since September. It rose by a large 17.1 per cent in comparison with 6.25 million tonnes of sales in October 2022.
Petrol and diesel sales had been highest since June.
Industry sources stated diesel demand has been surging on choose up in the agriculture season. Use of the gas in irrigation pumps and trucking has helped construct the momentum generated from the festive season demand push in October.
Rabi crop sowing led to a pick-up in financial exercise and an increase in demand.
Auto gas sales had dipped in July and August owing to the monsoon and diminished demand.
As the aviation sector opened up, India’s total passenger site visitors at airports inched nearer to pre-COVID-19 ranges.
Reflecting the development, jet gas (ATF) demand jumped 21.5 per cent to 572,200 tonnes throughout November, when in comparison with the identical month final yr. It was 60.8 per cent greater than November 2020 however 13.3 per cent decrease than pre-COVID November 2019.
Sources stated, whereas home air journey is again to pre-COVID ranges, worldwide site visitors is lagging due to continued restrictions in some international locations.
India’s restoration has continued to achieve momentum in current months however has been accompanied by elevated inflation. This slowed the momentum a bit in July-September.
India’s oil demand has been rising steadily because the easing of COVID-19 restrictions.
Cooking fuel LPG sales had been up 7.8 per cent year-on-year at 2.55 million tonnes in November. LPG consumption was 8.4 per cent greater than in November 2020 and 13.3 per cent greater than in November 2019.
Month-on-month, the demand was up 7.07 per cent when in comparison with 2.39 million tonnes of LPG consumption throughout October, the information confirmed.
(Only the headline and movie of this report might have been reworked by the Business Standard employees; the remainder of the content material is auto-generated from a syndicated feed.)
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