Petrol, diesel sales fall in August as rains ebb demand
The Hindu
India's petrol & diesel consumption fell in Aug from prev. month & yr ago. Diesel sales down 5.7% & petrol 8%. Economy resilient, demand for oil products strong. Jet fuel up 8.1%, LPG 3.7%. Monsoon rains hit mobility & slowed industrial activity.
India's petrol and diesel consumption fell in the first half of August from the previous month and a year ago, as monsoon rains hit mobility and slowed industrial activity, preliminary data of state-owned firms showed on Wednesday, August 16, 2023.
This is the second month in a row that fuel sales have fallen. The four months of monsoon generally see muted consumption.
Also read: PM Modi rolls out 20% ethanol-blended petrol in 11 States/UTs
Consumption of diesel, the most consumed fuel in the country accounting for about two-fifths of the demand, fell 5.7 per cent to 2.67 million tonnes from August 1 to 15, compared to the year-ago period.
Consumption had fallen by a steep 15 per cent in the first half of July but picked up in the second fortnight.
Month-on-month sales fell 9.5 per cent, when compared with 2.95 million tonnes of diesel consumed in the first half of July.
Diesel sales typically fall in monsoon months as rains lower demand in the agriculture sector which uses the fuel for irrigation, harvesting and transportation. Also, rains slow vehicular movements.
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