Petrol & Diesel Demand’s Decreased by 12% and 16% in June 2022

Petrol & Diesel Demand’s Decreased by 12% and 16% in June 2022

Diesel is mostly consumed by the industrial and agricultural sectors, while gasoline is primarily used by two-, three-, and four-wheeled vehicles.

From 776,000 tonnes in May, the demand for gasoline dropped to 702,000 tonnes in June. According to data from the Oil Companies Advisory Council (OCAC), Topline Research reported on Friday that sales of diesel fell to 713,000 tonnes in June from 776,000 tonnes the month prior.

Following the removal of subsidies and the application of taxes, the demand for gasoline and diesel fell by 12 and 16 percent, respectively, in June 2022 compared to the previous month, breaking a long upward trend in sales of petroleum products.

Following the end of the subsidies, sales of gasoline and diesel decline. Their consumption was decreased as a result of a large rise in gasoline prices.

In light of the price increase, Khan warned that “petroleum product sales may further decline by 5-10% in July… and continued declining over the next three to four months.” The petroleum development levy would be gradually increased by the government till it reaches Rs50 per litre, according to its announcement.

Global sales:
In June, sales of all petroleum products fell 11% month over month to 1.94 million tonnes. On the other hand, they stayed mostly unchanged from June 2021, according to Topline Research.

Sales of furnace oil fell by 2% in June compared to May as the government used the fuel to generate energy after coal and RLNG prices spiked on the international market.

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