New Delhi: Fuel sales in India continued in turbo mode in December on sustained demand from the agriculture sector, a rise in winter holiday travel and a sharp rise in car sales.
Market data for the month showed diesel consumption, a key indicator of economic activity, rose 13% during the month from December 2021 and more than 11% from the same month in pre-pandemic 2019.
Sequentially, however, sales were down 0.5% compared to November 2022.
Petrol sales registered a growth of 8.6% in the same period of 2021 and 23% as compared to December 2019. The pace of growth was visible sequentially as well, with November consumption rising by 3.7%.
Sales of jet fuel, or ATF, were up 18% over the year-ago period, but down 12% compared to December 2019. Demand due to increase in the number of passengers.
Consumption of LPG, which is mostly used as a domestic cooking fuel, jumped 7.7% from a year earlier and nearly 16% since December 2019, as winter chill enveloped most parts of north India and In the remaining parts, the temperature turned cold.
With the start of the crop season in November, the pace of growth in diesel demand picked up. The use of threshers and other farm equipment drives demand for the most commonly used fuel, along with grain transportation to bulk grain markets and further consumption centers. In the absence of winter rains, demand remained high as diesel-powered pumping sets were used for sowing the rabi crop.
Petrol sales were driven by people’s preference for personal cars for travel to tourist destinations or hometown as well as higher sales of passenger vehicles in December, which brokerages pegged at 15% higher than a year ago.
Holiday travel also contributed to an increase in diesel demand from taxi operators, while an increase in passenger numbers led to a jump in ATF sales. But jet fuel sales are still below pre-pandemic levels due to a more muted improvement in the number of overseas flights.
Market data for the month showed diesel consumption, a key indicator of economic activity, rose 13% during the month from December 2021 and more than 11% from the same month in pre-pandemic 2019.
Sequentially, however, sales were down 0.5% compared to November 2022.
Petrol sales registered a growth of 8.6% in the same period of 2021 and 23% as compared to December 2019. The pace of growth was visible sequentially as well, with November consumption rising by 3.7%.
Sales of jet fuel, or ATF, were up 18% over the year-ago period, but down 12% compared to December 2019. Demand due to increase in the number of passengers.
Consumption of LPG, which is mostly used as a domestic cooking fuel, jumped 7.7% from a year earlier and nearly 16% since December 2019, as winter chill enveloped most parts of north India and In the remaining parts, the temperature turned cold.
With the start of the crop season in November, the pace of growth in diesel demand picked up. The use of threshers and other farm equipment drives demand for the most commonly used fuel, along with grain transportation to bulk grain markets and further consumption centers. In the absence of winter rains, demand remained high as diesel-powered pumping sets were used for sowing the rabi crop.
Petrol sales were driven by people’s preference for personal cars for travel to tourist destinations or hometown as well as higher sales of passenger vehicles in December, which brokerages pegged at 15% higher than a year ago.
Holiday travel also contributed to an increase in diesel demand from taxi operators, while an increase in passenger numbers led to a jump in ATF sales. But jet fuel sales are still below pre-pandemic levels due to a more muted improvement in the number of overseas flights.