Petrol sales up 36%, diesel 20% in June

Sales of gasoil, which accounts for about two-fifths of the country's overall fuel sales, rose by about 20% in June compared with May to 5.54 million tonnes, provisional sales data showed. However, gasoline and gasoil sales in June are still down ...

NEW DELHI: Sales for petrol, diesel, jet fuel and cooking gas rose a combined 16% in June from May as the lockdown restrictions eased in the country but were still 14% lower than the sales in the same month last year.

The demand for diesel, which makes up 40% of the country’s total oil demand, was 20% higher in June than May, indicating increased long-haul transportation and rising economic activity. The sales, however, were still 17% less than in June 2019.

Petrol sales soared 36% in June from May but were 15% lower than the year-ago period. Jump in consumption of petrol, mostly used by cars and bikes for shorter distances, means more people came out of their homes and drove to their workplaces in June, an industry executive said.


The recovery in transportation fuel demand has been sharper than initially expected partly because the public transport is not fully operational yet in most places, forcing commuters to use private vehicles, the executive said.

The demand for jet fuel is also returning, albeit slowly, with the resumption of domestic flights. Jet fuel sales in June rose 83% over May but were down 67% from a year ago. Addition of new domestic flights and resumption of international flights could further push up jet fuel demand, the executive said.

The demand for cooking gas, or the liquefied petroleum gas (LPG), fell 9% from May but was up 17% from June last year.
ADVERTISEMENT

The data is for sales by state fuel retailers who control about 90% of the market.

The oil demand is expected to rise further in July as more factories and offices open and more vehicles get on the road. Indian Oil Corp, the nation’s largest refiner, expects its refinery run rate to rise to 100% by July-end from the current 90%.

Fuel sales growth in June:
June ‘20 vs May ‘20 June ’20 vs June ‘19
Petrol 36% -15%
Diesel 20% -17%
Jet Fuel 83% -67%
LPG (Cooking gas) -9% 17%
*Provision data for sales by state companies that control 90% of the market.


ADVERTISEMENT
READ MORE
ADVERTISEMENT

READ MORE:

LOGIN & CLAIM

50 TIMESPOINTS

More from our Partners

Loading next story
Text Size:AAA
Success
This article has been saved

*

+