PSU oil retailers see fall in petrol and diesel sales

economictimes.indiatimes.com:

Petrol and diesel sales by state-run oil companies fell 8% and 6% respectively over the last year in the first half of August as the private sector fuel retailers clawed back market share and as heavy rains affected mobility and industrial activity in some parts of the country. Compared to the first half of July, state-run oil companies sold 5% less petrol and 9.5% less diesel in August, the data showed.

Their sales of aviation turbine fuel (ATF), as well as LPG, fell by 2% each month-on-month. The sales of ATF, however, were up 8% year-on-year and those of LPG 3.7% higher.

Fuel demand trends may change by the end of the month when the data for the entire industry is released. Rains affect transport and also reduce the need for diesel for irrigation.

The demand for diesel, which accounts for about 40% of total refined fuel consumption in the country, is considered a gauge for economic activity because of the fuel's wider linkages. Private fuel retailers have been regaining the market share they lost last year after they discouraged sales at their pumps by keeping prices higher than state-run companies' pumps.