Diesel demand in India fell for the second month in a row because the onset of monsoon chipped away consumption in key sectors like agriculture, preliminary trade information confirmed Tuesday.
Petrol and diesel demand had fallen month-on-month in July. While petrol consumption is sort of flat within the first half of August, diesel – essentially the most extensively used gas within the nation – noticed demand drop 11.2 per cent throughout August 1-15 to 2.82 million tonnes from 3.17 million tonnes in the identical interval of the earlier month.
The arrival and depth of monsoon weigh closely on diesel demand within the nation and consumption historically is decrease in July-September than in April-June. Monsoon restricts mobility and demand from the farm sector, which makes use of diesel in irrigation pumps and trucking, additionally drops with the onset of rains.
Diesel demand was, nevertheless, 32.8 per cent greater year-on-year, supported by robust financial progress and a comparatively low baseline for a similar interval in 2021 when the second wave of COVID-19 had impacted the economic system.
Consumption of diesel was 58.2 per cent greater than the 1.78 million tonnes demand throughout August 1-15 in 2020. It was 23 per cent greater than pre-COVID August 2019, the info confirmed.
Petrol gross sales inched up 0.8 per cent to 1.29 million tonnes within the first half of August when in comparison with 1.28 million tonnes of consumption in the identical interval of the earlier month.
The consumption was 30.6 per cent greater than August 2021 and 43.4 per cent greater than the primary fortnight of August 2020. It was 36 per cent greater than pre-COVID August 2019.
Auto gas demand in June was supported by a surge in summer time journey to colder areas of the nation to flee from the warmth and holidays throughout annual breaks at instructional establishments. Thereafter, it fell in July and now in August.
As the aviation sector opens up, India’s total passenger visitors (each home and worldwide) at airports inched nearer to pre-COVID-19 ranges.
Accordingly, jet gas (ATF) demand grew by 42.2 per cent to 2,48,100 tonnes from August 1 to fifteen in comparison year-on-year. It was 121 per cent greater than August 2020 however 18 per cent decrease than pre-COVID August 2019. Month-on-month, gross sales fell 0.75 per cent.
With robust financial progress of seven.1 per cent, India’s oil demand has been rising steadily because the nation eased pandemic lockdowns.
“Monsoon months traditionally are low consumption months but overall oil demand will continue on its growth trajectory during the rest of the year,” an trade official stated.
The authorities on March 25, 2020, imposed a nationwide lockdown to regulate the unfold of coronavirus. The full lockdown, which halted mobility and crippled enterprise, was slowly eased after two months.
Cooking fuel LPG gross sales have been up 8.19 per cent year-on-year to 1.14 million tonnes within the first half of August.
LPG consumption was 15.3 per cent greater than in August 2020 and 5.5 per cent greater than in August 2019.
Month-on-month too, the demand fell 7.8 per cent when in comparison with 1.24 million tonnes of LPG consumption in the course of the first half of July, the info confirmed.
