Diesel sales post sharpest monthly fall since May as rain hits demand
NEW DELHI: India’s August diesel sales recorded the sharpest monthly fall since May as the monsoon hit demands from the farm, trucking and construction sectors, but petrol consumption continued to grow as people preferred personal vehicles after Covid restrictions were lifted.
Industry executives played down the dip in diesel sales, describing it as a seasonal phenomenon and exuding confidence demand will be back to pre-Covid level within a quarter as the fundamentals are intact.
True to that estimation, market data show August diesel sales were 16% more than the same month in 2020, but 9.7% down from the pre-pandemic 2019, the general resistance level shown by the largest-selling fuel.
