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Festivities boost diesel sales in Oct, demand up over last year
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Top Stories |
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SME Times News Bureau | 17 Oct, 2020
First time since lockdown, diesel sale in the country has crossed over
the pre-covid level with the country's most widely consumed fuel
witnessing a nine per cent year-on-year growth in the first 15 days of
October.
The surge in demand after months of subdued sales is the
direct result of an increase in the transport activities ahead of the
festival season as consumers move out to make those necessary purchases.
According
to official sources, during the first fortnight of October, the sale of
diesel increased by nine per cent (YoY) to reach a level of 2.65
million tonne. The growth is even more significant at close to 25 per
cent in relation to the previous month of September.
Fuel sales
by oil marketing companies had witnessed a drop of close to 60 per cent
in April when nationwide lockdown was announced. Thereafter, sales
picked up but remained muted and started growing from June during unlock
phases. It dropped again in August only to recover now.
Petrol
sales picked up during unlock phases as use of personal vehicles
increased. But with festivals round the corner, diesel demand has now
returned back to normal.
In the first 15 days of October, petrol sales also rose, but substantially lower at 1.5 per cent to close to one million tonne.
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