Fuel sales in India surpassed pre-pandemic levels in March. According to news agency PTI, state-owned oil companies sold 2.69 lakh tonnes of petrol in March, which is 8.7 percent higher than the same period last year and 14.2 percent higher than the same period of 2019.
Diesel sales: Sales of diesel, the most widely used fuel in the country, grew by 10.1 per cent year-on-year to 70.5 lakh tonnes in March, up five per cent over March 2019. Petrol sales grew by 17.3 percent and diesel sales by 22.3 percent on a monthly basis during the period under review.
Key reasons for the increase: Petrol and diesel sales grew by 18 per cent and 23.7 per cent, respectively, in the first fortnight of March. One of the major reasons for the increase in sales was the apprehension of a rise in prices, due to which people accumulated ‘stocks’. Along with the dealers, the public stockpiled in anticipation of a hike in prices after the elections in five states including Uttar Pradesh.
Let us tell you that the oil companies started daily revision of prices from 22 March. The rise in prices controlled consumption. Although there was no increase in the prices of petrol and diesel on Friday, but in the last 11 days, the price of vehicle fuel has been increased by Rs 6.40 per liter.