Petrol, diesel consumption surge in July amid lower-than-usual monsoons
Fuel consumption in India saw a significant surge in July, driven by increased demand for diesel and petrol due to lower-than-average monsoon rainfall. Conversely, LPG and aviation fuel consumption experienced a decline during the same period.
Why it matters
Fuel consumption trends serve as a key indicator of agricultural activity and economic health in India.
Consumption of diesel and petrol surged about 9.4% and 8.7% respectively in July from the same month last year, primarily fuelled by lower-than-usual monsoons increasing the demand for the two retail fuels among farmers who require them to run their irrigation machinery and tractors, among other things.
According to provisional government data, diesel consumption in June this year accelerated to about 8.05 million metric tonnes (MMT), higher than 7.356 MMT in the comparable period last year.
Consumption of petrol scaled 3.795 MMT in June this year, compared to 3.493 MMT in the comparable period last year.
Further, the provisional data also stipulate consumption of liquified petroleum gas (LPG) declined 17.4% during the reported period to 2.373 MMT.
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