India's petrol consumption soared 12.3% in April, but diesel sales continued to slide despite the country entering into hectic electioneering for general elections, preliminary data of state-owned firms showed on May 01.
Petrol sales of three state-owned firms, which control 90% of the fuel market, rose to 2.97 million tonnes in April compared to 2.65 million tonnes of consumption in the same period last year.
Diesel demand dropped 2.3% to 7 million tonnes. Demand for the nation's most consumed fuel had fallen 2.7% in March.
This is despite India going into general elections where automobiles largely driven on diesel are used extensively for campaigning.
While petrol sales were up mostly due to an increase in the use of personal vehicles on the back of a price cut, crop harvesting season and the onset of summer, which will increase the demand for air conditioning in cars as well as the electioneering holds out hope for reversing the trend in diesel demand.
Petrol and diesel prices were in mid-March reduced by ₹2 per litre, ending a nearly two-year-long hiatus in rate revision.
Month-on-month petrol sales dropped 5.3% compared to 2.82 million tonnes of consumption in March. Diesel demand was however 4.4% higher month-on-month against 6.7 million tonnes in March.
Diesel is India's most consumed fuel, accounting for almost 40% of all petroleum product consumption. The transport sector accounts for 70% of all diesel sales in the country. It is also the predominant fuel used in agriculture sectors, including in harvesters and tractors.
Petrol consumption has consistently shown a year-on-year rise, diesel consumption has been on a see-saw - rising in one month and falling in another.
Consumption of petrol during April was 15.3% more than in the COVID-marred April 2022, and 56.5% more than in the same month of 2020.
Diesel demand was up 4.4% over April 2022, and 22.1% compared to April 2020.
Jet fuel (ATF) sales rose 7% year-on-year to 6,56,700 tonnes during April 2024. But, this was 2% lower month-on-month when compared to 6,70,100 tonnes in March.
Like petrol and diesel, ATF demand too is now firmly above pre-Covid levels.
ATF consumption was 27.2% more than in April 2022 and 16.3% more than in April 2020.
Cooking gas LPG sales were up 12% year-on-year at 2.45 million tonnes in April 2024. LPG consumption was 9% higher than in April 2022 and 26.9% more than in April 2020.
Month-on-month, LPG demand fell 8.3% against 2.67 million tonnes consumption during March, the data showed.
