Petrol sales in India rise 54.2% in first two weeks of June, diesel grows 47.8%

Diesel sales in India have increased by 47.8 per cent in the first two weeks of June as compared to the same month a year ago. Reuters reports that the sales have increased between June 1 to 14 due to rising concerns over supply. It also claims that the state-controlled oil marketing companies have sold 3.4 million tonnes of motor fuel during the same period. This also marked a 12 per cent growth in sales as compared to the same period of May 2022. It further reported that sales of petrol during the same period were 1.28 million tonnes, registering a 54.2 per cent growth compared to the same period a year ago.

While the news agency reports that the rising sales are due to the growing concern around the supply of petrol and diesel, the central government on Wednesday played down any such concerns about fuel supply. The government said that the unprecedented demand growth has created some temporary logistics issues in more remote places.

"The increase in demand has been on account of the seasonal surge in demand due to agricultural activities, (and) bulk buyers having shifted their purchases to retail outlets," the Ministry of Petroleum & Natural Gas said in a statement.

The ministry also said that oil companies have geared up to tackle these issues by increasing the stocks at depots and terminals. Extra movement of trucks to serve retail outlets and extending working hours of depots and terminals are also underway, claimed the oil ministry. "The companies are ensuring that sufficient supplies of petrol and diesel are available to cater to this extra demand," the ministry further added.