There has been a decline in the sales of petrol and diesel across India in December 2023. This information has come to light in the PTI report. The quantity of petrol sold in December 2023 by Indian Oil Corporation (IOCL), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation Limited (HPCL), the three state-owned oil marketing companies that control 90 percent of the Indian fuel market, is the same as in the same month last year. In comparison, it decreased by 1.4 percent to 2.72 million tonnes. On the other hand, there has been an even bigger decline in diesel sales, which fell by 7.8 percent to 6.73 million tonnes.
This is the reason
With the onset of cold weather in North India, the demand for air conditioning in vehicles reduced, due to which fuel consumption also reduced. Petrol sales decreased by 4.9 percent on monthly basis. 28.6 lakh tonnes were consumed in November. At the same time, the demand for diesel was also 0.8 percent less in December as compared to 67.9 lakh tonnes in November. The most consumed fuel in India is diesel which accounts for about 40 percent of all petroleum products consumed.
The transport sector’s share in the total diesel sales in the country is 70 percent. However, there has been a decline in domestic consumption of fuel in the last few months. Although demand for both petrol and diesel had increased in October, diesel consumption fell by 7.5 percent in November.