Market information for the month confirmed consumption of diesel, a key indicator of financial actions, through the month rising 13% from December 2021 and greater than 11% from the identical month of the pre-pandemic 2019. Sequentially, nonetheless, gross sales have been 0. 5% decrease than November.
Petrol gross sales noticed development of 8. 6% over the identical interval of 2021 and 23% over December 2019. The expansion momentum was seen sequentially too, with gross sales topping November consumption by 3. 7%. Jet gas, or ATF, gross sales recorded a pointy uptick at 18% greater than the year-ago interval however have been 12% decrease than December 2019. However on a constructive notice, December gross sales have been 5. 8% greater than November to point a gradual development in demand on the again of a surge within the variety of flyers.
Consumption of LPG,principally used as family cooking gas, jumped 7. 7% from a yr in the past and near-16% from December 2019 as winter chill enveloped most of north India and temperatures cooled off within the remaining elements.
The momentum in diesel demand development started build up with the beginning of cropping season in November. Useof threshers and different farm tools mixed with grain transportation to wholesale markets and additional to consumption centres drove demand for the most-used gas. Absence of winter rains sustained the demand as diesel-driven pumping units have been used for rabi crop sowing.
Petrol gross sales have been pushed by folks’s choice for private vehicles for travelling to vacationer locations or hometown in addition to greater sale of passenger automobiles in December, which brokerages pegged at 15% greater than a yr in the past.
Vacation journey additionally contributed to rise in diesel demand, whereas ATF gross sales have been buoyed by a surge within the variety of flyers. However jet gas gross sales are nonetheless beneath the pre-pandemic degree on account of extra muted restoration in abroad flights.