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New Delhi: Diesel sales in India jumped up sharply in the first half of April as agricultural activity picked up and trucking increased to meet industrial demand, preliminary industry data showed on Monday. Demand for diesel, the most consumed fuel in the country accounting for about two-fifths of the demand, soared by over 15 percent to 3.45 million tonnes in the first half of April when compared to a year ago.
Month-on-month sales rose by 8.4 percent when compared with 3.19 million tonnes of diesel consumed in the first half of March that had witnessed seasonal slowdown. Petrol sales rose by about two percent to 1.14 million tonnes during April 1 to 15 when compared with the same period of last year. Sales however fell by 6.6 percent on month-on-month basis, the data showed. In the first half of March, petrol sales had fallen by 1.4 percent and diesel by 10.2 percent on year-on-year basis.
Consumption of petrol in April first half was 14.6 percent more than COVID-marred April 1-15, 2021 and almost 128 percent more than in the same period of 2020. Diesel consumption was up by 24.3 percent over April 1-15, 2021 and 127 percent higher than in the same month of 2020. With the continued opening of the aviation sector, India's overall passenger traffic at airports inched closer to pre-COVID levels.
Reflecting the trend, jet fuel (ATF) demand jumped by 14 percent to 2,84,600 tonnes during the first half of April when compared to the same period last year. It was 35 percent higher than April 1-15, 2021 and 467.6 percent more than the same period in 2020. Month-on-month sales however fell by 3.8 percent.
Cooking gas LPG sales rose by 5.7 percent year-on-year to 1.1 million tonnes in April 1-15. LPG consumption was 7 percent higher than in April 1-15, 2021 and 9.2 percent more than in the first half of April 2020. Month-on-month, the demand dropped 6.37 percent when compared to 1.18 million tonnes of LPG consumption during March 1-15, the data showed.
India is enjoying steady growth, with support from the services sector as well as the industrial side of the economy. The country's oil demand was supported by strong industrial activity, industry officials said. In terms of products, diesel was the main driver of oil demand as there was a pickup in the agriculture sector, as well as requirements for power generation and industry. Use of the fuel in irrigation pumps and trucking supported diesel.
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