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Petrol, Diesel Demand Rises in April as Summer Fuels Consumption

Written by Priya Sharma

Introduction: Summer Heat Drives Up Fuel Usage

As temperatures soared across India in April, so did the demand for petrol and diesel. Preliminary industry data reveals a noticeable uptick in the consumption of these essential transport fuels compared to the previous month, signalling the start of the peak summer demand season and reflecting increased economic activity. This rise comes after a slight dip observed in March, suggesting a return to growth trajectories for fuel consumption as the country gears up for increased travel and agricultural needs.

kam sabdo me kahein to, India witnessed higher petrol and diesel sales in April, primarily driven by the onset of summer, leading to more travel and agricultural operations.

Detailed Breakdown: Petrol Consumption Trends

Petrol sales experienced a significant surge in April. Data indicates that petrol consumption rose by approximately 6 to 7 per cent month-on-month, reaching figures close to 2.9 million tonnes. This increase is largely attributed to the burgeoning use of personal vehicles, including cars and two-wheelers, as families embarked on vacations during the summer school holidays. The pleasant weather in some regions during the early part of the month, followed by intense heat waves later, both contributed to increased mobility. People preferred air-conditioned cars for longer journeys and two-wheelers remained the staple for shorter commutes, collectively pushing up petrol demand. Year-on-year comparisons also show a healthy growth, underlining the sustained recovery and expansion in personal transportation usage post-pandemic disruptions. This trend aligns with increased vehicle sales reported by manufacturers in recent months, further solidifying the link between mobility and fuel demand.

Diesel Demand: The Economic Engine Roars Louder

Diesel, often considered the backbone of India's economy due to its widespread use in transportation, agriculture, and industry, also saw a robust increase in demand during April. Consumption climbed by around 2 to 3 per cent compared to March, totalling approximately 7.1 million tonnes. While the percentage increase might seem lower than petrol's, the absolute volume highlights diesel's critical role. The rise in diesel sales is multi-faceted. Firstly, the agricultural sector ramped up activities associated with the harvesting season (Rabi crop) and preparations for the next sowing cycle, requiring extensive use of tractors and irrigation pumps, most of which run on diesel. Secondly, increased movement of goods via trucks to meet consumer demand across the country contributed significantly. The summer season often sees higher demand for cooling appliances, beverages, and other goods, necessitating efficient logistics powered by diesel trucks. Furthermore, construction activities often pick up pace before the monsoon season arrives, adding to the demand. Some analysts also point towards potential stocking by fuel pump owners and bulk consumers in anticipation of price fluctuations or logistical adjustments related to the ongoing general elections, though this factor is harder to quantify precisely.

Factors Influencing the April Surge

Several key factors converged to drive fuel demand higher in April 2024:

Summer Travel Season: This is arguably the most significant driver. School holidays and favourable travel conditions (initially) encouraged people to undertake leisure trips, predominantly using personal vehicles.

Agricultural Activity: The overlap of the Rabi harvest season and pre-Kharif sowing preparations significantly boosted diesel consumption in rural and semi-urban areas.

Economic Momentum: Underlying economic activity, including goods transportation, construction, and manufacturing, continued its steady course, supporting diesel demand.

Election Season Mobility: While difficult to isolate, increased travel related to election campaigning and voter movement might have provided a minor additional boost to both petrol and diesel sales.

Stable Fuel Prices: Relatively stable retail prices for petrol and diesel during this period, following earlier reductions, likely removed any consumer hesitancy related to potential price hikes, encouraging regular consumption patterns.

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Looking Ahead: Future Trends and Considerations

The trend of increased fuel demand is expected to continue through May, traditionally another strong month for summer travel. However, factors like the intensity of the monsoon season, global crude oil price movements, and the overall economic trajectory will influence consumption patterns in the coming months. A timely and well-distributed monsoon could moderate agricultural diesel demand but might also impact travel. Conversely, volatile international oil prices could potentially lead to adjustments in domestic retail prices, affecting consumer behaviour. The outcome of the general elections and subsequent policy directions could also play a role in shaping economic activity and, consequently, fuel demand later in the year. Monitoring these variables will be crucial for understanding the fuel consumption landscape in India.

Conclusion: A Positive Sign for Mobility and Economy

The rise in petrol and diesel demand in April serves as a positive indicator of increased mobility and sustained economic activity in India. Driven primarily by seasonal factors like summer travel and agricultural operations, the surge reflects consumer confidence and the essential role these fuels play in daily life and commerce. While future months will bring their own set of variables, the April figures paint a picture of robust energy consumption, signalling a busy period for transportation and related sectors. The consistent demand underscores the ongoing need for stable fuel supplies and infrastructure to support India's growing energy requirements.

Regards,
Team Asarkari

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