Impact of Monsoon Rains on Mobility: Decreased Gasoline and Diesel Sales in India – ThePrint – Reuters

New Delhi: Indian state retailers’ gasoline and diesel sales fell in July from the previous month as monsoon rains reduced mobility and construction work, according to preliminary sales data.

Fuel demand in India, the world’s third-biggest oil importer and consumer, typically falls during the four-month monsoon season beginning in June as parts of the country are affected by heavy floods.

Monthly gasoil sales in absolute terms in July fell about 13.7% to 6.15 million tonnes while gasoline sales slipped 4.6% to 2.76 million tonnes, the data showed.

On a daily basis, sales of gasoline in July fell about 7.7% from the previous month with gasoil down about 16.5%, according to Reuters calculations. Daily jet fuel sales were down 1.7% last month from June levels and cooking gas sales were up 4.5%, the calculation shows.

Monsoon rains also hit demand from the agriculture sector as farmers use gasoil-fired generators for irrigation. Diesel sales of state fuel retailers were also affected due to marginally lower prices of the fuel at outlets of private refiners.

Gasoil accounts for about two-fifths of India’s overall refined fuel consumption, and is directly linked to industrial activity in Asia’s third-largest economy.

State retailers Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum Corp Ltd own about 90% of the country’s retail fuel outlets.

Below is a table of India’s preliminary fuel sales data with volumes in thousand tonnes:

Refined Fuel July 1-31 % chg from % chg % chg vs

2023 June 1-30 yr/yr July 2021

 

Gasoline 2765.4 -4.6 3.8 16.6

Gasoil 6151.5 -13.70 -4.3 12.8

Jet Fuel 603.5 1.6 10.3 102.5

Liquefied 2461.2 8.0 -1.7 4.0

Petroleum Gas

 

(Reporting by Nidhi Verma; Editing by Sherry Jacob-Phillips)

Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibilty for its content.


Also read: Reliance signs agreement with Brookfield for renewable energy push in Australia


 

FOLLOW US ON GOOGLE NEWS

Read original article here

Denial of responsibility! Swift Telecast is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – swifttelecast.com. The content will be deleted within 24 hours.

Leave a Comment