Petrol, Diesel Consumption Surge in November as Festive Season Boosts Demand
�New Delhi:�Oil marketing companies (OMCs) have revealed that India's petrol and diesel consumption soared in November as the festive season reversed a fall in demand witnessed in previous months. While petrol sales had shown a year-on-year increase, diesel has been a laggard since monsoon and November was the first month that saw positive growth in consumption, the state-owned OMCs said in its latest monthly report.
Petrol sales of three state-owned firms, which control 90 per cent of the fuel market, soared 8.3 per cent to 3.1 million tonnes in November compared to 2.86 million tonnes of consumption in the same month last year. However, diesel demand was up 5.9 per cent to 7.2 million tonnes. Petrol and diesel sales have been tepid during the monsoon months as rains reduced vehicular movement and demand for the agriculture sector. Petrol demand however soared once rains eased but diesel consumption lagged year-on-year.
As per the data, month-on-month petrol sales were up 4.7 per cent when compared to 2.96 million tonnes of consumption in October. "Diesel demand was almost 11 per cent more than 6.5 million tonnes of consumption in October.
Diesel is India's most consumed fuel, accounting for almost 40 per cent of all petroleum product consumption. The transport sector accounts for 70 per cent of all diesel sales in the country. It is also the predominant fuel used in agriculture sectors, including in harvesters and tractors," it said.
"Consumption of petrol during November was 16.5 per cent more than in November 2022, and 33.5 per cent more than in Covid-marred November 2020.
Diesel demand was 1.8 per cent lower than November 2022, but 8.5 per cent compared to November 2020. However, jet fuel (ATF) sales rose 3.6 per cent year-on-year to 650,900 tonnes during November 2024. This was 2.3 per cent higher month-on-month when compared with 636,100 tonnes of fuel sold in October," the data showed.
As per the OMC's data, cooking gas LPG sales were up 7.3 per cent year-on-year at 2.76 million tonnes in November 2024. "LPG consumption was 6.3 per cent higher than in November 2022, and 19.9 per cent more than in November 2020. Month-on-month, LPG demand was flat when compared to 2.76 million tonnes of LPG consumption in October," the data showed.
