(Representative image)
NEW DELHI: In an indication of fuel sales gathering pace in line with an uptick in industrial activity, diesel consumption in the first fortnight of February was 9% higher than January, when sales had shrunk 5% from the month before.
Similarly, petrol sales also reversed last month’s trend to post a monthly gain of 4.2% in the period under consideration. Consumption had dropped more than 3% in January from a month ago. But compared to a year ago, sales were down 2.4%.
But diesel consumption still remained about 9% and petrol 2.4% lower than the year-ago period, market data showed on Tuesday.
Diesel consumption is one of the key indicators of economic activities. The sharp rebound after the decline in January reflects increased economic activities in terms of movement of people, raw materials and finished products. But compared with a year ago, the numbers seem to indicate the economy has still some way to go before getting its mojo back.