Demand for fuel and power grows but at a slower pace in September

India’s fuel and electricity consumption grew at a slower pace in September compared with August, government data showed on Friday, despite a recovery in factory activity.

 

Sale of gasoil, which accounts for about two-fifths of India’s refined fuel demand, by state retailers rose 0.79 per cent in September, preliminary government data showed. Gasoil sales rose 16 per cent in August compared with last year.

 

Electricity consumption rose 0.8 per cent in September, compared with 17.1 per cent growth in August, data from federal grid regulator POSOCO showed.

 

India’s factory activity improved last month as a recovery in the economy from the pandemic-induced slump boosted demand and output, a private survey showed on Friday.

 

It was not immediately clear why there was a slump in the pace of energy demand growth.

 

Gasoline sales rose 6.57 per cent in September, compared with a 13.6 per cent rise in August.

 

State-run Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum Corp own about 90 per cent of the country’s retail fuel outlets.