Petroleum Planning and Analysis Cell (PPAC) of the oil ministry in its latest data has showed India’ fuel demand surged 7.3 percent in July 2018, driven by sharp rise in petrol and diesel consumption. In the month of July, fuel consumption totalled 17.05 million tonnes as compared to 15.88 million tonnes in the same month last year. The rise comes on back of 8.6 percent growth in June when demand totalled 17.99 million tonnes.
During the month of July, petrol sales were up 7.8 percent at 2.3 million tonnes, while diesel consumption was up 4.8 percent to 6.6 million tonnes. In the previous month (June), petrol sales were up almost 15 percent, while diesel showed a flatish growth.
Additionally, while Rs 3.8 a litre hike in petrol and Rs 3.38 in diesel propelled rates to hit an all-time high of Rs 78.43 a litre and Rs 69.31, respectively, on May 29 in Delhi, prices cooled off in subsequent months. Petrol price was down to Rs 76.31 by the end of July and diesel to Rs 67.82. The drop in oil prices was also one of the factors that fuelling rise in consumption. Besides, during July, jet fuel or aviation turbine fuel (ATF) sale was up 12.7 percent at 6,72,000 tonne.
