Economy

Diesel consumption falls 17% sequentially in May

Our Bureau New Delhi | Updated on June 10, 2021

Consumption of petrol also fell by 16.6 per cent

The domestic consumption of diesel during May fell by 17.2 per cent on a month-on-month basis to 1.99 million tonnes, according to data released by the Petroleum Planning and Analysis Cell.

The consumption of petrol also fell by 16.6 per cent during the month to 1.77 million tonnes. The consumption of LPG grew by 2.6 per cent month-on-month to 2.17 million tonnes.

On a year-on-year basis, diesel demand rose marginally for the month under review by 1 per cent, despite the nationwide lockdown in May last year. Petrol demand rose by 12 per cent, but LPG demand fell by 5.5 per cent on a year-on-year basis.

This is the second consecutive month-on-month fall in consumption of diesel and petrol, which had declined by 7.5 and 13 per cent respectively during April.

Having kept the retail prices stable in April even as Brent crude had inched upwards, oil marketing companies resumed hiking the rates in May after the completion of elections in various states. Meanwhile, Brent crude rose from $65 per barrel to $70 per barrel during May as the global economy continued its recovery.

In Delhi, the retail price of diesel during May rose by ₹4.42 to ₹80.73 per litre, while the petrol price rose by ₹3.73 to ₹94.23 per litre. Both the Brent crude and retail diesel and petrol prices have continued rising in June 2021.

Published on June 10, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.