Business

India's Fuel Sales Rise 5.7% In June, Cooking Gas Need Up 9.7%

   Download Android App    Share in      FullScreen   CheckVideos

Sales of melted petroleum gas (LPG), increased 9.7 percent to 2.26 million tonnes year-on-yearThe nation's fuel need recovered last month after slumping to a nine-month low in Might, as restrictions to suppress the spread of the pandemic were reduced and mobility chose up.Fuel intake, a proxy for oil demand, increased eight percent from May to 16.34 million tonnes, data from the Petroleum Preparation and Analysis Cell (PPAC) of the Ministry of Petroleum - & Gas revealed on Friday.A 2nd COVID-19 wave, which stalled movement and dulled financial activity, dragged fuel usage to its least expensive given that August in May.Pandemic infections have, however, alleviated from Might's peak, triggering a 1.5 per cent year-on-year increase in fuel need last month.

Going forward we see road fuel need reaching pre-pandemic levels by the end of the year given that the vaccination program has already come a long method, stated Rystad expert Simen Eliassen, adding that jet fuel might also recover by 115,000 bpd.However, Eliassen cautioned that new coronavirus variations and anomalies could position a threat to the recovery.A senior federal government official stated on Friday India's destructive second coronavirus wave was not yet over.

Concerns over a new Delta Plus COVID-19 variation has likewise clouded the nation's financial outlook.Diesel consumption, which accounts for about 40 per cent of India's refined fuel sales, fell 1.6 per cent year on year to 6.20 million tonnes, but increased 12 percent from May.Sales of fuel, increased by about 5.7 percent from the same duration last year and jumped 21 per cent from May to 2.41 million tonnes.Sales of cooking gas, or liquefied petroleum gas (LPG), rose 9.7 per cent to 2.26 million tonnes year-on-year, while naphtha sales visited about 3.1 per cent to 1.19 million tonnes.Sales of bitumen, used for making roads, were down 32 per cent from a year back, while fuel oil rose 1.9 percent.




Unlimited Portal Access + Monthly Magazine - 12 issues-Publication from Jan 2021

Buy Our Merchandise (Peace Series)

 

Contribute US to Start Broadcasting


It's Voluntary! Take care of your Family, Friends and People around You First and later think about us. Its Fine if you dont wish to contribute and if you wish to contribute then think about the Homeless first and Feed them. We can survive with your wishes too :-). You can Buy our Merchandise too which are of the finest quality.

Debit/Credit/UPI

UPI/Debit/Credit

Paytm

STRIPE

Details
Category: Business


20