According to preliminary statistics from state-owned companies, diesel sales in India decreased for the second consecutive month in September as rains reduced demand and hindered industrial activity in various regions of the nation.
In the first half of September, sales of gasoline were slightly higher while those of diesel declined year over year at three state-owned fuel merchants.
Diesel use, which makes up approximately two-fifths of the nation’s fuel demand, decreased 5.8% to 2.72 million tonnes between September 1 and 15 from the same time last year.
Similar amounts of consumption had decreased in the first half of August.
When compared to the 2.7 million tonnes of diesel used in the first half of August, monthly sales increased by 0.9%.
Because diesel is used for transportation, irrigation, and harvesting in agriculture, demand is normally lower during the monsoon months. Rain also slows down vehicle travel.
Diesel use increased significantly in April and May by 6.7% and 9.3%, respectively, as agricultural demand increased and vehicles turned up their air conditioning to combat the summer heat. After the monsoon arrived in the second part of June, it began to slow down. It decreased in the first part of July before picking up in the following two weeks.
In the first two weeks of September, gasoline sales increased 1.2% to 1.3 million tonnes compared to the same time last year.
In the first fortnight of July, consumption fell by 10.5%, but it increased in the second half. In the first half of August, it had decreased by 8%.
According to the figures, sales increased 8.8% month over month in the first half of September.
India’s economy has shown to be very resilient, and it is probable that by the first half of 2023, it will have outperformed the majority of other large countries. As a result, gasoline consumption is increasing.
The amount of gasoline consumed between September 1 and 15 was 20.8 percent more than pre-pandemic September 2019 and 29.2 percent higher than the COVID-affected first half of September 2021.
Diesel usage increased by 36.4 percent compared to September 1–15, 2019 and by 26.4% compared to September 1–15, 2021.
Jet fuel (ATF) consumption increased 6.8% to 2,92,500 tonnes during the first fortnight of September compared to the same time previous year due to the continued growth in airport passenger traffic.
It was 53.9% higher than in September 2021, but 5% less than in September of 2019.
Sales of jet fuel decreased 1.8% month over month as compared to 2,98,000 tonnes from August 1–15, 2023.
Sales of cooking gas LPG increased 10.2% year over year to 1.36 million tonnes between September 1 and 15. In comparison to September 1–15, 2021, and to the period before to COVID, September 1–15, 2019, LPG usage increased by 15.5% and 35%, respectively.
According to the report, LPG demand increased 13% month over month, with 1.21 million tonnes used between August 1 and 15.