New Delhi, September 17
India’s petrol gross sales rose for the primary time within the first half of September because the nation’s lockdown in late March, signalling demand might have returned to pre-COVID-19 ranges.
Petrol gross sales between September 1 and 15 rose 2.2 per cent year-on-year and had been up 7 per cent over the earlier month, in accordance with preliminary trade knowledge.
Diesel gross sales proceed to be in unfavorable territory, with demand falling 6 per cent year-on-year. But the demand was 19.three per cent greater over August 2020.
This is the primary time that petrol gross sales on the earth’s third-largest oil importer have risen because the March 25 nationwide lockdown crippled financial exercise and despatched demand plummeting.
Petrol gross sales rose to 9,65,000 tonnes throughout the first half of September as in comparison with 9,45,000 tonnes in the identical interval a yr again and 9,00,000 tonnes throughout August 1-15, 2020.
Demand for diesel, essentially the most consumed gas within the nation, fell to 2.13 million tonnes from 2.25 million tonnes in September 1-15, 2019. Sales had been 1.78 million tonnes throughout the first half of August this yr.
Industry sources stated whereas the Indian financial system has began to select up with lockdown restrictions being lifted since June, native lockdowns by states have hampered the demand rapidly choosing up.
Petrol gross sales have picked up as commuters are more and more preferring to non-public transport to public transport.
The September rise in petrol is a turnaround from the sharp drop witnessed in August. Diesel and petrol gross sales have fallen by 21 per cent and seven.four per cent, respectively in August from a yr earlier.
Jet gas gross sales at 1,25,000 tonnes had been down 60 per cent within the first half of September however was 15 per cent greater than 1,03,000 tonnes gross sales in August.
Cooking gasoline LPG gross sales had been up 12.5 per cent at 1.13 million tonnes year-on-year and 13.5 per cent month-on-month.
Car gross sales rose 14 per cent in August from a yr earlier, whereas two-wheeler gross sales elevated by three per cent.
Shrikant Madhav Vaidya, Chairman of Indian Oil Corp (IOC) – the nation’s largest gas retailer, earlier this week said that there have been indicators of demand restoration, however the pandemic’s affect might linger and month-to-month consumption might edge again to pre-virus ranges by the top of the yr.
Fuel demand is predicted to additional rise in October because the festive season kicks in. PTI