Imminent price hike expectation drives petrol, diesel sales in India

India’s auto fuel sales surged past pre-pandemic levels in the first half of March as consumers and dealers topped tanks in anticipation of a likely price hike post assembly elections.

Petrol sales by state-owned fuel retailers, which control roughly 90 per cent of the market, at 1.23 million tonnes during March 1-15 were nearly 18 per cent higher than the same period last year and 24.4 per cent higher than the period in 2019, preliminary industry data showed.

Diesel, mostly-used fuel in the country, saw sales jumping 23.7 per cent year-on-year to 3.53 million tonnes. This was 17.3 per cent higher than sales in March 1-15, 2019.