India’s fuel sales rise above pre-Covid levels – Times of India

NEW DELHI: India’s fuel sales surged previous pre-pandemic ranges in March on twin affect of the financial system rebounding from the lifting of pandemic-related restrictions and anticipation of value will increase resulting in stocking. Within the first two weeks of March, sellers, in addition to the general public, topped up their tanks in anticipation of a rise in costs that had been on maintain within the run-up to the elections in states like Uttar Pradesh.
Whereas day by day value revisions restarted on March 22, the will increase have been calibrated. The value will increase moderated the consumption.
Petrol sales by state-owned gasoline retailers, which management roughly 90 per cent of the market, at 2.69 million tonnes throughout March have been almost 8.7 per cent larger than the identical interval final 12 months and 14.2 per cent larger than the interval in 2019, preliminary business information confirmed.
Diesel, the most-used gasoline within the nation, noticed gross sales leaping 10.1 per cent year-on-year to 7.05 million tonnes. This was 5 per cent larger than gross sales in March 2019.
Petrol and diesel gross sales had risen 18 per cent and 23.7 per cent respectively in first half of March when a lot of the hoarding on value hike expectations passed off.
Whereas petrol gross sales have been 38.6 per cent larger than the gross sales throughout March 2020, diesel gross sales have been up 41.6 per cent over the identical reference interval.
Month-on-month, petrol gross sales have been up 17.3 per cent and diesel gross sales surged 22.3 per cent.
Diesel gross sales throughout March are essentially the most in any month within the final two years and greater than the entire quantity of diesel offered in April 2020 when the nation was beneath a whole lockdown.
Business sources stated, whereas there was a panic shopping for by particular person automobile homeowners, petrol pump sellers topped up not simply their storage tanks but in addition any cellular browser or tanker truck they’d. The sellers hoped to make a fast buck by shopping for gasoline at a decrease charge and promoting at revised larger costs.
Petrol and diesel costs hit the freeze button simply as electioneering for 5 states together with Uttar Pradesh picked up in early November 2021. The report 137-day freeze ended on March 22 and since then petrol and diesel costs have risen by Rs 6.4 per litre every.
Jet gasoline (ATF) gross sales rose 9.8 per cent to 491,200 tonnes in March however have been 27.6 per cent lower than pre-Covid ranges of 2019. They have been, nevertheless, 7.5 per cent greater than gross sales in the identical interval in 2020.
ATF gross sales are anticipated to select up with the whole opening up of air journey final week.
India went in for a whole lockdown, stopping flights, halting rail and highway actions and shutting companies, within the final week of March 2020, to comprise the unfold of coronavirus. The March 2020 interval was close to regular as Covid restrictions have been simply kicking in.
LPG gross sales have been up 12 per cent to 2.53 million tonnes in March, the information confirmed. Cooking fuel gross sales moderated after a Rs 50 per cylinder hike in costs on March 22. LPG gross sales had risen by 17 per cent within the first half of March.

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