Fall in diesel sales after 10 years
Indian Oil
Corporation President Mr. R. S. Putola informed that there was a fall in diesel
sales in the first 7 months of financial year 2013-14 for the first time after 10
years.
Diesel forms 45% of
all the petroleum products sold. From the financial year 2003-4, there has been
a steady increase in sales of diesel oil from 6 to 8% every year. For the
financial year 2007-8, there was a record increase in diesel sales by 11%.
For the financial
year 2012-13, the rise in diesel sales was 6.68%, amounting to 6.91 Crore tons.
As compared to financial year 2003-04 (3.91 Crore tons), this represents an
increase of 87%. In the current financial year 2013-14, the first 7 months have
recorded a reduction of 0.8% amounting to 3.91 Crore tons.
The central
government allowed the public oil companies to raise the diesel by 0.5 paise
every month as long as there was no loss in revenue. Diesel prices have
increased by 6.62%.. As power generation has improved, the demand for diesel
has reduced in the period from April to October.
The overall fuel
sales have increased from 9.02 to 9.06 Crore tons. During these 7 months, petrol
sales have increased by 10% amounting to 90.50 lakh tons.
As per the prices
fixed by the central government for diesel and LPG, the oil companies have been
reporting losses. The loss is estimated at Rs. 9.90 for diesel per litre, Rs.
36.30 per litre for kerosene and Rs. 542 for LPG per cylinder.
