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September Month | Surge in Petro Sales ⬆️| Downfall in Diesel Sales⬇️
September Month | Surge in Petro Sales ⬆️| Downfall in Diesel Sales⬇️
Published On: 19 September 2023
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Reuters commented that Petrol sales observed a marginal growth in the first fifteen days of September, while diesel sales behaved vice versa, that is consumption fell drastically.
India is aiming to achieve zero net carbon emissions by 2070. For this to happen, the fuel market is witnessing quite a drastic and visible change in the perception of how people are acquiring EV vehicles. But, that being said, petrol vehicles have not lost hope. On the other hand, diesel vehicles are bidding goodbye as they cause more environmental damage and have low shell life.
When surveyed, the petrol sales behold a surge in its demand in the first 15 days of September 2023. PTI’s report suggested an upward rush in petrol consumption. This reflected a spike of 1.2% in overall sales when compared to the same period last year. Whereas, on the other hand, the consumption of diesel fell drastically. The sales figure slid down to 2.72 million, suggesting an overall downfall of 5.8% compared to the same period last year.
The report also stated that petrol sales measured a downfall of 10.7% in the first fifteen days of July when compared to the same period over last year. But, it took a turn when the sales turned the figure in a positive direction in the other half of July. But, again drastically fell off by 8% in the first half of August. The report suggested that petrol sales surged in India by 8.8% in September compared to the same time period of August last year.
Due to the unannounced arrival of COVID-19, among other sectors, the fuel market also suffered huge losses. But, sales of petrol cars and diesel have significantly improved and spiked high in the past two years. This year, 2023, the overall consumption of petrol was up by 29.2% as compared to the first 15 days of September 2021 and 20.8% more than the pre-pandemic period of September.
Over the period, when these sales were compared to the overall sales of diesel, it experienced a major downfall as rain dissuaded the demand for fuel, as the report stated. Diesel is the most consumed fuel in the country but its sales shook down its market and respective retailers as observed by three state-owned fuel retailers. The same downfall pattern was also observed in August this year.
Overall, the sales of diesel fuel spiked by 0.9% in the first fortnight of September this year whereas the sales turned only 2.7 million in August this year. This pattern suggested an overall spike in diesel sales during September (2023) by 26% in September 2021 and 36.4% compared to September 2019.
