India typically witnesses a decline in fuel demand during the four-month monsoon season, which commences in June, due to heavy floods affecting various parts of the country. The current scenario is further compounded by restricted mobility and a broader slowdown in construction activity, leading to a decrease in bitumen demand.
Notably, the consumption of bitumen, used in road construction, experienced a significant drop of 30 per cent in July, while fuel oil use observed a 9.6 per cent increase during the same period.
Sales of gasoline in July were also impacted, registering a 5.3 per cent decrease compared to the previous month, with total sales amounting to 2.99 million tons.
On the other hand, cooking gas, or liquefied petroleum gas (LPG), demonstrated a positive trend, witnessing a sales increase of about 7 per cent, reaching 2.39 million tons. Similarly, naphtha sales experienced growth, rising by 9.3 per cent to reach 1.07 million tons.