India’s August fuel story: Petrol, diesel up, LPG down sharply
Petrol and diesel sales saw significant year-on-year increases in August. This growth was fueled by greater mobility and a strengthening economy. Aviation turbine fuel sales also returned to growth, indicating air traffic recovery. However, cooking gas consumption continued its decline despite increased imports. Industry experts attribute this drop to a shift towards piped natural gas.
Petrol and diesel sales in India surged by 7.9% and 6.5% year-on-year respectively in August, according to preliminary data released by the oil ministry on Tuesday. The increase in mobility, stronger vehicle sales, and a growing economy contributed to the rise in demand for petrol. Cumulative sales growth for petrol during April-August was 6.5%, while diesel sales grew by 4.3% during the same period. An industry executive noted that farmers in various regions have been relying more on diesel for irrigation purposes.
Aviation turbine fuel (ATF) sales saw a modest increase of 1.4%, indicating a recovery in air traffic that had been affected by the conflict in West Asia and the surge in fuel prices. However, cooking gas, or LPG, sales declined sharply by 16.1% in August. The decline in LPG consumption continued throughout the April-August period at a rate of 15.9%. Industry executives attributed the decline to the shift of households, eateries, and factories towards piped natural gas as an alternative source.
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