Strong jump in sales of petrol and diesel in March? what is the reason

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There is a strong jump in the sale of petrol and diesel in March due to the possibility of price hike. The sale of petrol, diesel in the country has crossed the pre-pandemic level in the first 15 days of March due to speculations of increase in vehicle fuel prices after the assembly elections. Concerned consumers and dealers are getting their vehicles filled completely due to the possibility of price hike. According to preliminary data received from the industry, petrol sales of public sector petroleum companies, which control nearly 90 per cent of the market, stood at 1.23 million tonnes between March 1 and 15, up 18 per cent over the same period last year and compared to 2019. 24.4 percent higher.

Strong jump in sales of petrol and diesel

At the same time, the sales of diesel on an annual basis increased by 23.7 percent to 35.3 million tonnes and was 17.3 percent higher than in 2019. According to the data, this year petrol sold 24.3 percent more and diesel 33.5 percent more than the sales during 1-15 March 2020. At the same time, petrol sales were 18.8 percent higher and diesel 32.8 percent higher than last month.

People are filling the tanks of vehicles

Petroleum Minister Hardeep Singh Puri said on Monday that some such comments have come that people should get their vehicles completely filled before the hike in the prices of petrol and diesel. After this, an increase of 20 percent has been registered in the sale of fuel. In view of the assembly elections of five states including Uttar Pradesh, the prices of petrol and diesel have not increased since November 2021. During this time, the price of crude oil has reached from $ 81 to $ 130 per barrel. Despite this, vehicle fuel prices have not increased since 132 days.

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