Monthly sales also look higher due to the low base in June last year when the country was still in the throes of the second wave of the pandemic. Compared to June 2019, sales were 16.5% higher for petrol and 10.5% for diesel, as per the preliminary sales data from state-run oil companies that control 90% of the fuel stations in the country.
AgenciesCompared to May 2022, the consumption in June was 3.1% higher for petrol and 11.5% for diesel.
State-run fuel retailers rushed in to make up for a supply shortage of fuel by private outlets and sold 29% more petrol and 35% more diesel in June over last year, industry executives said. Monthly sales also look higher due to the low base in June last year when the country was still in the throes of the second wave of the pandemic. Compared to June 2019, sales were 16.5% higher for petrol and 10.5% for diesel, as per the preliminary sales data from state-run oil companies that control 90% of the fuel stations in the country.
As private fuel retailers such as Reliance Industries and Nayara prioritised the super-profitable export markets and shrank supplies to their dealers, the burden of catering to consumers shifted disproportionately to state-run companies such as Indian Oil, Bharat Petroleum and Hindustan Petroleum. Private retailers have reduced sales in the domestic market since state-run companies have kept pump prices frozen for months despite a rally in the international market.
Compared to May 2022, the consumption in June was 3.1% higher for petrol and 11.5% for diesel.
Jet fuel demand also jumped 119% in June from last year despite rising prices as the aviation sector continued to recover. Jet fuel sales were down 13% compared to June 2019 but up 2% compared to May 2022. Cooking gas consumption increased 0.23% over the year but was up 28% over 2019. It has increased 6% from May.
Agencies
