Petrol consumption grows at 3.4 per cent year-on-year: Report

Consume of gasoline rose 3.4% while that of diesel it fell 3.7% year-on-year in June in a sharp slowdown from a sales boom in May, according to preliminary data from state oil trading companies.

In May, sales of gasoline and diesel had grown by 10% and 12%, respectively, compared to the previous year. Sales growth was 4.5% in LPGand 17% in jet fuel.

In June, the growth of jet fuel sold by state companies was 6%. LPG sales decreased by 0.6% in June compared to the previous year.

Gasoline sales continued their growth in new car sales, holiday travel and the summer season, which increases the need for air conditioning in cars, industry executives said. Diesel sales slowed down probably due to the arrival of the monsoon. Rain reduces operations irrigation pumps. It also lowers the temperature, which reduces the demand for energy.

The holiday rush boosted jet fuel sales, which, however, remain almost 5% lower than in the days before the pandemic.

Fuel sales growth in June 2023

*Provisional sales data from state oil companies