Sales of gasoline and diesel are reported to be growing amid growing concerns about fuel supplies.
Diesel sales in India in the first two weeks of June increased by 47.8 percent compared to the same month last year. Reuters reports that sales increased between June 1 and 14 due to growing concerns about supplies. It also claims that state-controlled oil marketing companies sold 3.4 million tons of motor fuel during the same period. It also marked a 12 percent increase in sales compared to the same period in May 2022. It is further reported that gasoline sales for the same period amounted to 1.28 million tons, which is 54.2 percent growth over the same period a year ago. .
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While the news agency reports that sales growth is driven by growing concerns about gasoline and diesel supplies, the central government on Wednesday eased any such concerns about fuel supplies. The government said unprecedented growth in demand has led to some temporary problems with logistics in more remote locations.
“The increase in demand was due to seasonal growth in demand due to agricultural activities, (and) the relocation of purchases to retail outlets,” the Ministry of Oil and Natural Gas said in a statement.
The ministry also said oil companies were prepared to address these issues by increasing inventory at warehouses and terminals. Additional traffic of trucks for servicing trade facilities and extension of the working day of depots and terminals is also underway, the Ministry of Oil said. “Companies are ensuring sufficient supplies of gasoline and diesel fuel to meet this additional demand,” the ministry added.
Date of first publication: June 15, 2022, 8:16 PM IST