Categories: Business

Domestic fuel demand slips in july after 2 months of gains

Photo: FILE

fuel demand slips in july

new Delhi. Fuel demand in the country has once again seen a decline. According to a report in Reuters, diesel sales by state-run oil companies declined by 13 per cent over the previous month, based on early July data. It has registered a decline of 21 per cent over the previous year. Diesel sold by state-run oil companies accounts for 40 percent of the country's total fuel demand. Government oil companies Indian Oil, HPCL and BPCL have a 90 percent share in the domestic retail oil market.

According to the data, the sale of petrol by government companies in July has decreased by 1 per cent as compared to June. At the same time, compared to the same month of last year, it has registered a decline of more than 11 percent. Several reasons are being attributed to the decline in petrol and diesel sales in July, including diesel price hike, new restrictions imposed due to rising cases of corona virus and flooding due to monsoon rains in many places. The effect on subsequent movement is major.

On the other hand, sales of LPG and Jet Fuel have registered an increase during July. LPG sales in July increased by 10 per cent from state-owned companies, while it registered a growth of 3.5 per cent over the previous year. At the same time, with the increase in air travel, jet fuel sales in July increased by 4 percent compared to June. However, it has fallen by 65 per cent over the previous year.

This post was published on August 3, 2020 8:41 pm

Content Team

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