Chennai: Petrol and ATF consumption in June were up 4.2 per cent and 8.68 per cent while diesel consumption registered a flat growth of 0.72 per cent over the same month last year. However, consumption of petrol, diesel as well as ATF were down sequentially when compared to the consumption in May.
According to provisional sales data published by the Ministry of Petroleum and Natural Gas, the country consumed 3.28 million metric tonnes of petrol in June against 3.15 MMT in the same month last year, registering a growth of 4.22 per cent. However, the consumption fell sequentially by 4.37 per cent against 3.43 million metric tonnes in May.
Diesel consumption grew 0.72 at 7.96 MMT in June against 7.90 MMT in June 2023. It was down 4.89 per cent compared to 8.37 MMT in May.
In the case of aviation turbine fuel (ATF), consumption grew 8.68 per cent y-o-y in June to 0.69 MMT but was down 6.7 per cent against 0.74 MMT in May. The consumption of ATF has been registering a healthy growth in the past several months owing to the increased air traffic. However, the end of the summer holiday season seemed to have led to the sequential decline in ATF sales against both April as well as May.
LPG usage of 2.39 MMT was up 5.12 per cent on a yearly basis but was down 4 per cent sequentially.
In the case of state-run fuel retailers, sales of petrol on a y-o-y basis grew 3.6 per cent and diesel sales declined 1.3 per cent in June. These retailers registered 4.3 per cent growth in ATF sales, which was lower than the total consumption growth of 8.68 per cent, indicating a rising share of private retailers in ATF sales.
The average price of the Indian basket of crude oil was $82.55 per barrel in June against $83.56 per barrel in May and $89.46 per barrel in April.
Crude and petroleum products contributed Rs 7.51 lakh crore to the central and state exchequers on account of taxes, duties and corporate taxes in FY24 against Rs 7.48 lakh crore in FY23. Of this, Rs 4.32 lakh crore went into the kitty of the Centre and Rs 3.18 lakh crore to state exchequers.
