Financial Daily from THE HINDU group of publications
Monday, Jul 21, 2003

Port Info

Group Sites

Home Page - Petroleum
Industry & Economy - Petroleum

Auto sales rev up fuel consumption

Archana Chaudhary

Mumbai , July 20

AN improvement in automobile sales has reflected in a healthy 6.1 per cent growth in consumption of transport fuels in June 2003.

According to officials of oil companies, the jump in consumption of transport fuels petrol and diesel corresponds with improved auto sales.

"Sales of four-wheelers have shown a 24 per cent growth in June this year, two-wheeler sales have improved by more than 30 per cent. This has reflected on petrol and diesel sales,'' a senior official said.

Petrol and diesel have both reported an increase of 13 per cent and 7.03 per cent respectively in June. In line with this growth, sales of automobile lubricants also jumped by 5.5 per cent.

Low sulphur heavy stock (LSHS) and furnace oil (FO), which are primarily used as industry fuels and feedstock, also showed improved growth. While LSHS and FO grew by 11.9 per cent and 1.7 per cent respectively, naphtha consumption fell by 5 per cent.

Industry observers believe another reason for higher consumption growth rates for products seem higher because of weak base year figures.

In June 2002, consumption had suffered after growth rates slumped to -1.7 per cent following a price hike. Diesel, considered an indicator of economic growth, had reported a negative growth of -4.4 per cent in June last year.

Article E-Mail :: Comment :: Syndication

Stories in this Section
PCOs may have separate rate structure

Auto sales rev up fuel consumption
FICCI takes on spurious drug makers — 'Raids reveal loopholes in distribution network'
Will washing machines spin magic this monsoon?
When rumours rule the floor
Secretary-level changes — For North Block, DEA is still the unfinished act

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | Home |

Copyright 2003, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line