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Mumbai33 minutes ago
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90% of the fuel outlets in India are owned by Hindustan Petroleum, Bharat Petroleum and Indian Oil Corporation.
On the one hand, the prices of petrol and diesel have reached a historic high, while on the other hand there is a steady decline in its consumption. According to data released by state-run fuel vendor companies, petrol and diesel sales in May declined by 17% from the previous month. The biggest reason for the decline in sales is strict lockdown restrictions.
Petrol sales down to 1.79 million tonnes in May
Sales of petrol, used in cars and motorcycles, declined to 1.79 million tonnes in May, the lowest in a year. This is 28% lower than the pre-covid level, which stood at 2.49 million tonnes. Whereas in May 2021, this figure of consumption is 13% more than May last year. Because this time there were a lot of concessions in the lockdown. At the same time, last year the movement was completely stalled due to the world’s strictest lockdown.
Diesel sales down 17%
The demand for the most used diesel in the country fell to 4.89 million tonnes. This is 17% lower than April. 90% of the fuel outlets in India are owned by Hindustan Petroleum, Bharat Petroleum and Indian Oil Corporation.
Jet fuel sales down 34% from April
Airplane flights were also reduced due to strict restrictions on movement. As a result, Jet Fuel (ATF) sales were 2.48 lakh tonnes in May. This is down 34% from April 2021 and 61.3% from May 2019. At the same time, in May 2020, jet fuel sales were one lakh 9 thousand tonnes.
LPG sales also fell by 6%
Meanwhile, the sale volume of LPG LPG fell by 6% from May last year to 2.16 million tonnes. It was 2.03 million tonnes in May 2019. Last year, the lockdown LPG was the only fuel whose demand increased, because the government had also given free cylinders to the people through the relief package.
Fuel demand likely to increase
An official statement from the industry said that we were about to reach the pre-covid level in March 2021, but the second wave of Corona weakened demand. Because the lockdown slowed down the movement and movement of industrial goods. However, with the second wave weakening, fuel demand is likely to strengthen.