Diesel consumption continues slide in Jan, petrol gross sales up 5.9%

Diesel consumption fell 2.3 per cent this January as towards the year-ago interval, whilst petrol gross sales grew by 5.9 per cent in the identical interval, in line with the gross sales knowledge of main public sector oil advertising and marketing firms (OMCs).
Industry sources famous that decrease operations of public transport together with state buses and the railways had been key causes for diesel consumption not returning to pre-Covid ranges. The costs of each petrol and diesele have additionally been hiked by Rs 2.5 per litre every in January, because of an increase within the worldwide value of crude and excessive levies on the 2 auto fuels, which had been hiked considerably in 2020 to spice up authorities revenues through the pandemic.
Diesel consumption accounts for round 40 per cent of complete gas consumption within the nation is taken into account a key indicator of financial exercise.

The mixed diesel gross sales for the three giant state-owned OMCs, Indian Oil Corporation Ltd, Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd. fell to six,042 Thousand Metric Tonnes (TMT) in January from 6,187 TMT within the year-ago interval.
Exports develop 5.4% in Jan, commerce deficit narrows
New Delhi: Merchandise exports in January rose 5.4 per cent from a 12 months earlier than, the best since September 2020 and in comparison with a 0.1 per cent rise in December, confirmed the preliminary estimate of the Commerce Ministry.Imports, too, recorded a second successive month of progress, although the tempo of growth slowed from the January degree, reflecting the delicate state of home demand. Trade deficit narrowed to $14.75 billion in January from $15.44 billion within the earlier month. fe