March 2, 2021 3:59:51 am
The consumption of petrol fell by 2 per cent and that of diesel by 8.6 per cent in February compared to the year-ago month, according to sales data of the three state-owned oil marketing companies (OMCs) — Indian Oil Corporation Ltd, Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd.
Petrol consumption declined year-on-year for the first time since August, with prices of both petrol and diesel hiked by about Rs 5 per litre last month. Petrol was priced at Rs 91.17 per litre and diesel at Rs 81.47 per litre in Delhi on Monday, with no hike in their prices for the second straight day.
Petrol sales by public sector OMCs fell to 2,219 TMT last month from 2,264 TMT in February 2020, partially as a result of a 29-day February last year, according to industry sources who noted that barring the difference of one day, petrol sales were largely on par with year-ago period.
The consumption of diesel — which fell to 5,811 thousand metric tonnes (TMT) from 6,356 TMT a year-ago — may have been affected by the steep hike in price over the last four months, according to experts, with industries potentially switching out diesel for other fuels. Public transport still operating at below pre-Covid levels too is a key contributor to lower diesel sales, industry sources said.
Meanwhile, the price of LPG — which has seen a sharp increase since last year — was hiked by a further Rs 25 on Monday to Rs 819 per 14.2 kg cylinder, up from Rs 694 at the start of February.
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