Sales of gasoline and diesel in India climbed significantly in September as a result of the booming economy. According to a PTI report, the demand has increased due to the holiday season and the conclusion of the rainy season. According to the study, gasoline sales in September increased 13.2% to 2.65 million tonnes from 2.34 million tonnes in the same month a year prior. Sales decreased by 20.7% in September 2020 as a result of the Covid-19 effect. Additionally, at 23.3%, the gasoline sales in September 2019 before the epidemic were higher than they were in September 2018. However, the research asserts that starting in August 2022, the demand for gasoline fell by 1.9%.
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When compared to the same month a year prior, diesel sales in September 2022 increased by 22.6% to 5.99 million tonnes. The amount of diesel consumed in September 2020 decreased by 23.7%. In comparison to the pre-Covid era of 2019, diesel sales last month were roughly 15% higher. Diesel sales fell by over 5% in August compared to July of this year. But in September compared to August, the demand for the fuel increased by 1.3%.
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According to the study, the majority of the country's monsoon season has ended, and the agricultural season has begun to pick up, which has led to an increase in demand for diesel. Rains typically reduce mobility and demand from the farm sector, which is a heavy user of diesel. The start of the holiday season also aided in boosting economic activity and demand. According to the research, since the country relaxed epidemic lockdowns, India's oil demand has been gradually increasing, with strong economic growth of 7%.
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