India’s August fuel story: Petrol, diesel up, LPG down sharply
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Strong vehicle sales this fiscal have contributed to strong petrol demand. Cumulative sales growth during April-August was 6.5% for petrol and 4.3% for diesel. A rapidly expanding economy and uneven monsoon have driven diesel sales to an unusually high growth rate of 6.5% in August. An industry executive said farmers in many regions have been increasingly using diesel for irrigation. Also Read: Windfall tax slashed on fuel exports Meanwhile, aviation turbine fuel (ATF) sales rose 1.4%, while cooking gas, or LPG, sales fell 16.1%. The return to growth for ATF in August points to a recovery in air traffic, which had been hit by the West Asia war and soaring fuel prices. For the April-August period, ATF sales declined 0.6%. Cooking gas consumption, surprisingly, continued to fall in August despite rising imports. The fall during April-August stood at 15.9%. Industry executives attributed the August decline partly to a shift to piped natural gas among households, eateries and factories. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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