Petrol and diesel sales surge in September, buoyed by festival push

Petrol and diesel sales in India surged in September on the back of the increased economic activity. The festive season as well ending of the monsoon, has raised the demand, claims a report by PTI. The report claims that petrol sales soared 13.2 per cent to 2.65 million tonnes in September as compared to 2.34 million tonnes in the same month a year ago. In September 2020, sales were down to 20.7 per cent due to the Covid-19 impact. Also, the petrol sales last month were higher than the pre-pandemic time of September 2019, by 23.3 per cent. However, the report claims that demand for petrol slumped by 1.9 per cent from August 2022.

Diesel sales too surged in September 2022 by 22.6 per cent to 5.99 million tonnes as compared to the same month a year ago. In September 2020, consumption of diesel was 23.7 per cent less. Last month's diesel sales were nearly 15 per cent higher than the pre-Covid period of 2019. Diesel sales witnessed nearly five per cent drop in August compared to July this year. However, the demand for the fuel rose by 1.3 per cent last month as compared to August.

The report claims that the ending of monsoon rains in the majority of parts of the country and a pick-up in the agricultural season resulted in a rise in diesel demand. Rains usually restrict mobility and demand from the farm sector that uses diesel vehemently. The arrival of the festive season also helped pick up the economic activities and the rise in demand. The report further claims that With strong economic growth of seven per cent, India's oil demand has been rising steadily since the country eased pandemic lockdowns.