The Hindu Business Line : Petro product sales in December up 4%

New Delhi, Jan 31 Increase in diesel consumption, which accounts for nearly a third of the domestic petroleum product sales, propelled a 4 per cent increase in the sale of oil products in December. Driven by the auto fuels — petrol and diesel — oil product sales rose to 10.94 million tonnes (mt) in December 2007 (10.53 mt in December 2006). While diesel sales increased by 10.7 per cent, petrol was up 9.5 per cent.

The 2007 April-December period saw the sale of diesel grow by 9.9 per cent. Petrol sales in the period rose 11.5 per cent on year, according to data available.

Comparative data

Increase in domestic demand for petroleum products saw Indian refiners importing 10.5 per cent more crude oil in December. According to data, the refiners imported 11.39 mt of oil in December, up from 10.31 mt in the same month the previous year.

With many private petrochemical and fertiliser plants switching to natural gas, domestic naphtha sales in December fell by 13.8 per cent compared to with same month the previous year.

High margins overseas and controlled prices in the domestic market led to a 20.9 per cent increase in oil product exports to 2.94 mt in December. Private refiners exported most of their auto fuels as they were not compensated by the Government for local sales. Diesel exports during the month increased by 41.5 per cent, petrol by 11.4 per cent and jet fuel exports by 47.1 per cent.

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