NEW DELHI: Demand for transportation fuels surged in May after remaining in the slow lane for two months, propelled by manufacturing activity expanding at the quickest pace in 31 months, thriving auto sales, onset of summer travel and higher farm sector consumption.
Preliminary market data shows petrol sales surging by more than 10% in May from a year ago as families hit the road after education institutions closed for summer holiday. Booming passenger car and two-wheeler sales further boosted consumption.
Diesel sales, considered a key barometer of economic activities, grew by more than 9% during the month, in line with higher movement of people, raw materials and finished goods, including grains in the farm sector.
