India’s fuel and power demand bounced back in June as states lifted curbs on the back of declining Covid-19 cases across the country, market and government data show.
Petrol consumption posted a monthly growth of 15% and diesel 12% in the first fortnight of June. Yet, the sales volume of petrol was 3.5% lower than a year ago and 21% down from the same period of 2019.
Diesel volumes were 7.5% lower than the corresponding period of last year and more than 21% lower than the same period of 2019.
Consumption of diesel, a proxy for economic activities, had posted a monthly fall of 16% and petrol 17% in May as the second Covid-19 wave prompted lockdowns in states, especially the industrialised ones.
Power consumption rose 9% to roughly 56 BUs (billion units) during the fortnight under review from a low base of 51 BUs in the year-ago period as early onset of monsoon and lower industrial activities crimped demand. Consumption had recorded a monthly decline of 7% in May.
Jet fuel consumption during the first half of June was sequentially down 17% from the same period of May and 13% lower than a year ago. But the volumes were was 65% lower than the comparable period of 2019 as flights still remained curtailed.
Demand for LPG, or household cooking gas, was marginally down from May but 14.6% higher than the same period of 2020 and 22% more than the comparable period of 2019.