Diesel sales fall 20% in early June as demand falls amid high prices

The most recent official gross sales knowledge for the general sector can be found for April when total consumption of petroleum merchandise had fallen to 17 MT, the bottom recorded since September 2020.

India’s diesel gross sales fell 19.7% to 762 thousand tonnes within the first six days of June, in contrast with the earlier yr, signalling lowered demand as a result of hovering retail costs of the gas.

Diesel gross sales in Might had inched up 1.4% year-on-year to 4.9 million tonnes (MT). These are the gross sales figures of state-run oil advertising firms (OMCs) which comprise about 90% of the overall provide within the nation.

The most recent official gross sales knowledge for the general sector can be found for April when total consumption of petroleum merchandise had fallen to 17 MT, the bottom recorded since September 2020.

Diesel gross sales contribute to round 40% of the overall consumption of petroleum merchandise and decrease demand sign that the re-imposition of lockdown curbs with the second wave of the coronavirus in lots of areas have slowed industrial and business consumption.

Nonetheless, an trade official pointed that the distinction demand is greater additionally as a result of there was no Sunday within the first six days of June 2020. OMC petrol gross sales within the first six days of June was 260 thousand tonnes, 18.5% decrease than June 2020.

Petrol bought by OMCs in Might was 1.8 MT, which was 12.9% greater than the identical month in 2020. Nonetheless, petrol gross sales remained a lot decrease than 2.5 MT bought in Might 2019 when there was no lockdown to scale back the unfold of the coronavirus. As a lot as 6.9 MT of diesel was bought in Might 2019.

Demand for the aviation turbine gas (ATF) from OMCs in Might, at 249 thousand tonnes, was 2.3 instances greater than the corresponding interval final yr however remained 61.3% decrease than Might 2019 ranges as a number of restrictions remained imposed on inter-state journey. Gross sales of ATF within the six days of June was 30 thousand tonnes, 14.3% decrease than the identical interval final yr. Gross sales of liquefied petroleum gasoline (LPG) was 2.2 MT in Might, 6.3% decrease than Might 2020.