New Delhi: India’s auto fuel sales rose from pre-pandemic levels in the first half of March as consumers and dealers tanked in anticipation of a possible price hike after the assembly elections.
Dealers as well as the public topped their tanks as they expected that the prices withheld for elections in states like Uttar Pradesh would rise by a huge margin to make up for the higher raw material costs. 60 percent jump in
Petrol sales by state-owned fuel retailers, which control nearly 90 per cent of the market, stood at 1.23 million tonnes during March 1-15, nearly 18 per cent higher as compared to the same period last year and in the same period of 2019 24.4 percent higher. , Preliminary industry data showed.
Sales of diesel, the country’s most widely used fuel, grew 23.7 per cent year-on-year to 3.53 million tonnes. This was 17.3 per cent higher than the sales in March 1-15, 2019.
While petrol sales were 24.3 per cent higher than sales during March 1-15, 2020, diesel sales were 33.5 per cent higher in the same reference period.
Month-on-month sales of petrol grew by 18.8 per cent and that of diesel by 32.8 per cent.
Diesel sales during March 1 to 15 are the highest in the first half of any month in the last two years and exceed the total volume of diesel sold in April 2020, when the country was under complete lockdown.
Industry sources said that while panic buying was done by individual vehicle owners, petrol pump dealers not only topped up their storage tanks but also any mobile browser or tanker truck they had with them. Dealers were expected to make quick money by buying fuel at a lower rate and selling it at revised higher prices.
Oil minister Hardeep Singh Puri had said on Monday that fuel sales have shot up by 20 per cent on comments encouraging people to tank in preparation for the imminent hike in petrol and diesel prices.
Petrol and diesel prices hit the freeze button during the election campaign for five states, including Uttar Pradesh, in early November 2021. The record freeze of 132 days was despite raw material costs jumping from $81 a barrel to $130 a barrel.
It was estimated that once the elections were over, the state-owned fuel retailers would start adjusting the prices, which were Rs 12 per liter less than the cost. But the rates have not changed even after the results of the state elections are out, possibly not to handle the opposition amid the second half of the budget session that began on Monday.
Puri said in the Rajya Sabha, “On March 5, a political leader made a statement, fill your tanks quickly because petrol prices are going to rise with the election over. And consumption has increased by 20 per cent.” Statement of Congress leader Rahul Gandhi. “It’s a shame that 20 percent hoarded in one statement.”
On 5 March, Gandhi asked people to raise the tank as the “election motion” would soon expire.
In a tweet in Hindi, Gandhi said, “Get your petrol tanks filled quickly. The ‘Election’ proposal of the Modi government is going to end soon.”
“Hike” and “Coming back soon to fuel stations near you”.
The Congress has been accusing the BJP government of stopping the hike in fuel prices during the elections and raising the prices soon after the polls are over. Assembly elections in five states, including Uttar Pradesh, began on February 10 and ended on March 7. The counting of votes took place on March 10.
Puri said international oil prices had risen from USD 19.56 a barrel in 2020 to USD 130 a barrel earlier this month and have now come down to USD 100 a barrel.
“Oil marketing companies will take their decision (on fuel prices). They will go ahead when they are not able to bear it. If they don’t have margin or cushion, they will take appropriate steps,” he said.
Jet fuel (ATF) sales more than doubled to 232,900 tonnes in March 1-15, 2022, but were 31.1 per cent lower than pre-Covid levels in 2019 and 27.5 per cent lower than sales in the same period in 2020.
The last week of March 2020 included a complete lockdown, halting flights, halting rail and road movement and closing businesses in India to contain the spread of the coronavirus. The period March 1-15, 2020 was close to normal as the COVID restrictions were just getting started.
Normal operations have not yet resumed in the aviation sector. Read also: PM Kisan Yojana: Farmers will soon get 11th installment; Check how to add name in beneficiary list
Data shows that LPG sales grew by 17 per cent to 1.3 million tonnes in March 1-15. Read also: World Bank will help make Himachal the first green state in India
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$('html head').find('title').text($(this).children().find('.left-block').attr('data-title'));
$('meta[name=description]').attr("content",$(this).children().find('.left-block').attr('data-summary'));
$('meta[name=keywords]').attr("content",$(this).children().find('.left-block').attr('data-keyword'));
$('meta[name=news_keywords]').attr("content",$(this).children().find('.left-block').attr('data-keyword'));
pSUPERFLY.virtualPage(prevLoc,$(this).children().find('.left-block').attr('data-title'));
//console.log("Summary: " + $(this).children().find('.left-block').attr('data-summary'));
//console.log("Keyword: " + $(this).children().find('.left-block').attr('data-keyword'));
//history.pushState('' ,'', prevLoc);
loadshare(prevLoc);
}
return false; // stops the iteration after the first one on screen
}
});
if(lastHeight + last.height() < $(document).scrollTop() + $(window).height()){
//console.log("**get");
url = $(next_selector).attr('href');
x=$(next_selector).attr('id');
//console.log("x:" + x);
//handle.autopager('load');
/*setTimeout(function(){
//twttr.widgets.load();
//loadDisqus(jQuery(this), disqus_identifier, disqus_url);
}, 6000);*/
}
//lastoff = last.offset();
//console.log("**" + lastoff + "**");
});
//$( ".content-area" ).click(function(event) {
// console.log(event.target.nodeName);
//});
/*$( ".comment-button" ).live("click", disqusToggle);
function disqusToggle() {
var id = $(this).attr("id");
$("#disqus_thread1" + id).toggle();
};*/
//$(".main-rhs2445828").theiaStickySidebar();
var prev_content_height = $(content_selector).height();
//$(function() {
var layout = $(content_selector);
var st = 0;
///});
}
}
});
/*}
};*/
})(jQuery);