India’s fuel sales fall in April first half after record rise in prices

India’s fuel sales fell in the first half of April as a record rise in prices in a short 16-day period dented demand, preliminary industry data showed on Saturday.

sales fell almost 10 per cent in the first half of April when compared with the same period in the preceding month, while demand slid 15.6 per cent.

Even cooking gas LPG, which had consistently shown growth even during the pandemic period, saw a 1.7 per cent month-on-month fall in consumption during April 1-15.

State-owned oil firms on March 22 ended a 137-day hiatus in rate revision and began passing on a USD 30 per barrel increase in cost of raw material (crude oil) during that period when five states including Uttar Pradesh went to polls.

and prices rose by Rs 10 per litre between March 22 and April 6 — the highest ever increase during a 16-day period since were deregulated two decades back.

On March 22, cooking gas prices too were hiked by Rs 50 per cylinder to Rs 949.50 — the highest-ever rate for the subsidised fuel.

prices too climbed to the highest-ever Rs 1,13,202.33 per kilolitre, resulting in a 20.5 per cent fall in sales month-on-month.

In the first two weeks of March, dealers as well as the public topped up their tanks in anticipation of an increase in prices that had been on hold in the run-up to the elections in states like Uttar Pradesh.

While daily price revisions restarted on March 22, the increases were calibrated. The price increases moderated the consumption.

See also  BharatPe co-founder Ashneer Grover takes voluntary leave till March-end

sales by state-owned fuel retailers, which control roughly 90 per cent of the market, at 1.12 million tonnes during April 1-15 were nearly 12.1 per cent higher than the same period last year and 19.6 per cent higher than the period in 2019, preliminary industry data showed.

The consumption was, however, 9.7 per cent lower than the 1.24 million tonnes sales in the same period in March 2022.

Diesel, the most-used fuel in the country, saw sales jumping 7.4 per cent year-on-year to almost 3 million tonnes.

This was 4.8 per cent higher than sales in March 2019, but 15.6 per cent lower than 3.53 million tonnes consumption during March 1-15.

Petrol and sales had risen 18 per cent and 23.7 per cent respectively in the first half of March when most of the hoarding on price hike expectations took place.

Diesel sales during March were the most in any month in the last two years and more than the total volume of diesel sold in April 2020 when the country was under a complete lockdown.

Industry sources said while there was panic buying by individual vehicle owners in the first half of March, petrol pump dealers topped up not just their storage tanks but also any mobile browser or tanker truck they had.

The dealers hoped to make a quick buck by buying fuel at a lower rate and selling at revised higher prices. As prices were raised, consumption fell.

Petrol and diesel prices hit the freeze button just as electioneering in five states including Uttar Pradesh picked up in early November 2021.

See also  Russian opposition leader Alexei Navalny stands new trial in prison

The record 137-day freeze ended on March 22.

(ATF) sales rose 9.8 per cent to 231,400 tonnes in April 1-15 but were 25.9 per cent less than pre-COVID levels of 2019. The sales were, however, 1.7 per cent less than 235,400 tonnes sales in the first half of March 2022.

ATF sales are expected to pick up with the complete opening up of air travel last week.

India went in for a complete lockdown, stopping flights, halting rail and road movements and shutting businesses, in the last week of March 2020 to contain the spread of coronavirus. The March 2020 period was near normal as COVID restrictions were just kicking in.

The government gave free LPG cylinders during 2020 to help poor fight the fallout of the stringent lockdown. This helped state oil firms register growth month after month even as other transport fuels saw severe demand contraction.

But in the first half of April, LPG consumption fell 0.7 per cent year-on-year to 1.02 million tonnes. This was 4 per cent lower than April 2020 and 20.5 per cent lower than 1.3 million tonnes demand in March 1-15, 2022.

Cooking gas sales moderated after a Rs 50 per cylinder hike in prices on March 22. LPG sales had risen by 17 per cent in the first half of March.

But compared to the first fortnight of April 2019, the sales were up 16.5 per cent, the data showed.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

See also  Coal India has sufficient buffer stock for non-power sector: Govt

Source link

istanbul escort aksaray escort arnavutköy escort ataköy escort avcılar escort avcılar türbanlı escort avrupa yakası escort bağcılar escort bahçelievler escort bahçeşehir escort bakırköy escort başakşehir escort bayrampaşa escort beşiktaş escort beykent escort beylikdüzü escort beylikdüzü türbanlı escort beyoğlu escort büyükçekmece escort cevizlibağ escort çapa escort çatalca escort esenler escort esenyurt escort esenyurt türbanlı escort etiler escort eyüp escort fatih escort fındıkzade escort florya escort gaziosmanpaşa escort güneşli escort güngören escort halkalı escort ikitelli escort istanbul escort kağıthane escort kayaşehir escort küçükçekmece escort mecidiyeköy escort merter escort nişantaşı escort sarıyer escort sefaköy escort silivri escort sultangazi escort suriyeli escort şirinevler escort şişli escort taksim escort topkapı escort yenibosna escort zeytinburnu escort porno 1080p porno izle 4k porno izle 720p porno izle abella danger alman alman porno alman porno izle aloha tube porno amatör amatör porno amatör porno izle anal anal porno anal porno izle arap porno asa akira porno asyalı porno bangbros porno bangbros porno izle banyoda sikis başörtülü porno beeg porno izle beyaz tenli porno izle biseksuel porno izle bisexsuel porno brandi love porno brazzers brazzers porno izle canli porno canli porno izle çinli porno çinli porno izle ensest porno ensest porno izle ensest seks erotik porno erotik porno izle esmer porno esmer porno izle etek altı fake agent fake taxi fake taxi porno fantazi pornoları fantezi porno izle fetiş porno fetiş porno izle fetish fransız porno fransız porno izle full hd hg porno izle gangbang porno genç kız porno izle genç kız sikişi genç teen porno izle gizli çekim porno gizli çekim pornosu grup pornosu grup porno grup porno izle hd pornolar hd porno hd porno izle hemşire porno hemşire pornosu hizmetçi porno hizmetçi porno izle ingiliz porno japon pornoları japon porno kızlık bozma kızlık bozma porno izle konulu porno konulu porno izle koreli porno köylü pornoları kumral porno kumral porno izle latin pornoları latin porno latin porno izle lezbiyen pornoları lezbiyen porno lezbiyen porno izle lisa ann porno liseli pornoları liseli porno liseli porno izle manken porno manken porno izle masaj porno izle masturbasyon porno izle masturbasyon pornoları mature porno mia khalifa porno mia malkova porno milf porno izle mobil porno mobil porno izle öğrenci porno izle öğretmen porno izle okul porno izle olgun kadın pornosu olgun porno oral porno oral porno izle oral seks porna izle pornhub pornhub porno izle porno film izle porno indir porno izle porno resimler porno star porntube porno izle redtube redtube pornoları riley reid porno rokettube rus pornoları rus porno rus porno izle sakso blowjob porno izle sarışın pornoları sarışın porno sarışın porno izle sarışın pornoları sekreter porno shemale sikiş sikiş sikiş izle şişman porno siyahi pornoları suriyeli pornoları swinger porno tecavüz porno teen porn türbanlı pornoları türbanlı porno türk pornoları türk porno türk porno izle türkçe altyazılı porno türkçe altyazılı porno izle xhamster pornoları xhamster porno xhamster porno izle xnxx xnxx porno xnxx porno izle xvideos xvideos porno izle yaşlı porno yeşilçam porno izle youjizz youporn youporn porno izle zenci porno güvenilir bahis siteleri bahis siteleri casino deneme bonusu casino siteleri deneme bonusu para yatırma bonusu bahis siteleri casino siteleribahis sitesi para yatırma