All reports Data : In December 2023, sales of both gasoline and diesel decreased throughout India. The PTI report has revealed this fact. The amount of gasoline sold in December 2023 by the three state-owned oil marketing companies that control 90% of the Indian fuel market—Indian Oil Corporation (IOCL), Bharat Petroleum Corporation (BPCL), and Hindustan Petroleum Corporation Limited (HPCL)—was identical to that of the same month the previous year. By contrast, its value decreased by 1.4% to 2.72 million tonnes. Conversely, there was an even greater drop in diesel sales, which fell 7.8% to 6.73 million tons.
Reason for decline in sales
The research states that the winter season is the primary cause of this drop in gasoline and diesel sales. As a result, the amount of motor fuel used typically decreases. People often travel less in the winter, which has an effect on motor gasoline sales nationwide.
According to the study, gasoline sales decreased 4.9% last month on a month-over-month basis. In contrast, 2.86 million tonnes of gasoline were sold in November of last year. In contrast to December 2021, when the pandemic struck, gasoline usage increased by 7.1% in India. Additionally, sales increased by 21.5% from December 2019, prior to the epidemic.
However, there was a 0.8 percent month-over-month drop in diesel sales last month. In contrast, 6.79 million tonnes were sold last month. December 2021 showed a 4.3 percent increase in diesel usage, whereas December 2019 saw a 2.7 percent increase.
Meanwhile, India’s rising petrol sales are being driven by the nation’s growing number of passenger cars. In India, diesel accounts for 40% of total motor fuel use and is the most popular fuel. In India, the transportation industry accounts for 70% of all diesel sales. India’s automobile fuel usage has fluctuated dramatically in recent years. During October’s festivities, there was a noticeable rise in the demand for both gasoline and diesel. Subsequently, there was a 7.5% decrease in diesel consumption the following month.