There was a sharp decline in the demand for oil in the country in July and August but in the first 15 days of September it has increased sharply. This is an indication that the economy is getting out of lethargy. But the ever increasing cases of corona in the country are raising concern. According to the government data, petrol consumption in the first 15 days of September was up 2 per cent compared to the same period last year, while diesel has reached 94 per cent of the earlier round of Bikra Corona. It has gained 19 percent compared to August.
Diesel consumption is a major indicator of economic activity as it is used in transportation, construction and farming. Its sales increased in June but declined in July and August due to monsoon, floods and local lockdowns in major industrial states. Diesel consumption declined by 12 per cent in August compared to July. It was 21 per cent lower than the previous level of Corona.
Aircraft fuel sales also increased
Aircraft fuel sales in September also increased by 15 per cent compared to August but it is still 60 per cent lower than the previous level of Corona. LPG sales during this period have increased by 12 per cent compared to a year ago. Sales in the first 15 days of September also increased by 13% compared to August. People are mostly staying at home to avoid corona infection, which is leading to a steady increase in LPG sales.
In the Corona era, people are giving preference to private vehicles over public transport. This is the reason that car sales in August grew by 14 percent while two-wheeler sales grew by 3 percent. This has also increased fuel consumption. Experts say the return of the monsoon, restoration of construction activities and the start of the festive season will further boost oil sales.