Petrol, diesel sales jump in September as festival season nears
The Hindu
Petrol sales soared 13.2% to 2.65 million tonnes in September when compared to 2.34 million tonnes of consumption in the same month last year
Petrol and diesel sales in India jumped in September as economic activity picked up with the nearing festival season and the ending of the monsoon raised the demand, preliminary industry data showed.
Petrol sales soared 13.2% to 2.65 million tonnes in September when compared to 2.34 million tonnes of consumption in the same month last year. Sales were 20.7% higher than Covid-marred September 2020 and 23.3% more than pre-pandemic September 2019.
Demand was, however, 1.9% lower than the previous month of August 2022.
Diesel, the most used fuel in the country, posted a handsome 22.6% rise in sales in September to 5.99 million tonnes when compared to the same month last year. Consumption was up 23.7% over September 2020 and nearly 15% higher than pre-Covid 2019.
The fuel, which had seen a near 5% drop in sales in August when compared to the previous month of July, saw demand rise 1.3% month-on-month.
Industry sources said the ending of monsoon rains in most parts of the country and a pick up in agriculture season led to a rise in diesel demand. Rains usually restrict mobility and demand from the farm sector, which uses diesel in irrigation pumps and trucking.
Also, the approaching festival season led to a pick-up in economic activity and a rise in demand.
Swiggy shares drop 8% to record low due to wider loss from quick commerce expansion against Zomato.
Sensex and Nifty trade lower amid RBI caution, foreign fund outflows; market awaits rate cut decision.
Rupee hits record low against U.S. dollar on anticipation of RBI rate cut, weak economic data, and foreign fund outflows.
India may be able to develop its own high-end computing chipset, known as GPUs, in the next 3-5 years, Union Minister Ashwini Vaishnaw said.
DeepSeek has computer code that could send some user login information to a Chinese state-owned telecommunications company, say researchers.
Workday is cutting about 1,750 jobs, or 8.5% of its workforce as it focuses on AI.
Reliance Industries, ITC, and other major companies announce significant investments in West Bengal at BGBS 2025.
The Union Budget seems to have got many things right
LIC receives ₹105.42 crore GST demand notice for seven years, no material impact on operations.
Stock markets close lower as investors turn cautious ahead of RBI's monetary policy decision amid trade war concerns.
India has accused South Korea’s Kia of evading taxes of $155 million by misclassifying component imports but the carmaker has denied wrongdoing, the latest fight by a foreign automaker with New Delhi over tariffs, according to a document and two sources.
Rupee hits all-time low against dollar amid global trade war concerns, RBI rate cut expectations, and weak services sector.
Zomato CEO Deepinder Goyal clarifies controversial hiring process, with 30 candidates selected from 18,000 applications.