Petrol, diesel sales surged in March in anticipation of post-election price hike

India’s fuel sales surged past pre-pandemic levels in March on twin impact of the economy rebounding from the lifting of pandemic-related restrictions and anticipation of price increases leading to stocking.

In the first two weeks of March, dealers, as well as the public, topped up their tanks in anticipation of an increase in prices that had been on hold in the run-up to the elections in states like Uttar Pradesh.

While daily price revisions restarted on March 22, the increases were calibrated. The price increases moderated the consumption.