Sales of petrol, diesel and jet fuel rose 9-10% year-on-year in May as economic activity expanded and summer holidays spurred leisure travel.
Petrol sales jumped 10.4% over the same month last year, according to the preliminary sales data gathered from state-run oil companies. The consumption of petrol was nearly a quarter higher than in May 2019. Increased holiday travel, robust car and motorbike sales, and overall expansion in economic activity have all contributed to strong sales growth for petrol.
Diesel consumption rose 9.3% in May helped by increased industrial and mining activity and retail demand. Elections in Karnataka also helped boost diesel demand. Diesel sales in May were 7% higher than in May 2019.
Jet fuel sales rose 8.7% year-on-year on holiday travellers’ rush. Domestic airlines are carrying a record number of passengers these days though international flying is yet to fully recover to pre-Covid highs. Jet fuel sales in May were 5.3% lower than in May 2019.
Liquefied petroleum gas (LPG), used mainly as cooking fuel in the country, rose 9.8% in May over the corresponding period last year. LPG sales in May were 20% higher than in the same month of 2019.
