KOLKATA: Defying economic good judgment of inelastic demand of petroleum merchandise, diesel, which has noticed a pointy spike in value up to now one year, has witnessed a destructive growth in demand within the state for two consecutive months, April and May.
Petrol isn't a long way in the back of. Its growth in demand has dropped to a single digit , a phenomenon not witnessed in Bengal in lots of a long time, say oil corporate officers. The value of each petro merchandise even though have fallen marginally in ultimate 7 days however the sluggish growth is constant, said resources.
The demand for petrol and diesel is regarded as ‘inelastic’, implying that their demand does not pass down a lot with build up in value.
“There is a degrowth within the demand of diesel for two consecutive months in comparison to the same duration ultimate yr. So it kind of feels that is now a pattern. The growth in demand for petrol could also be sluggish. This has not happened here in a few years,” an Indian Oil respectable told TOI.
Noted economist Abhirup Sarkar felt the sort of destructive growth in petro merchandise is highly odd. “The fall in demand of any inelastic just right like petrol or diesel should be a lot less than the proportionate build up in value,” he said.
Marginal growth in petrol demand
As in keeping with figures available with TOI from oil corporations, there was 1% destructive growth in diesel demand in April 2018 in comparison to April 2017 and six% degrowth in May 2018 over May 2017. “There was no degrowth in diesel until March 2018. In fact, April 2017 saw a 10% growth vis-a-vis April 2016. There was decent growth in May 2017 as neatly,” the IOC respectable said.
In case of petrol, the expansion in demand was only five.five% in April 2018 in comparison to the same month ultimate yr. The sluggish growth has continued in May as neatly with a marginal four% growth.
The reasonable value of petrol in April 2017 was Rs 69.eight within the state whilst in April 2018 it was Rs 76.three, an build up of virtually Rs 7. The reasonable diesel value was Rs 58.five in April 2017 and went as much as Rs 68.6 in April 2018, a bounce of Rs 10. It is from May-June ultimate yr that the costs of petrol and diesel began going up.
According to the respectable, destructive growth in diesel and sluggish growth in petrol have come about in spite of a large number of new automobiles being added up to now 12 months.
(With inputs from Krishnendu Bandyopadhyay)
Petrol isn't a long way in the back of. Its growth in demand has dropped to a single digit , a phenomenon not witnessed in Bengal in lots of a long time, say oil corporate officers. The value of each petro merchandise even though have fallen marginally in ultimate 7 days however the sluggish growth is constant, said resources.
The demand for petrol and diesel is regarded as ‘inelastic’, implying that their demand does not pass down a lot with build up in value.
“There is a degrowth within the demand of diesel for two consecutive months in comparison to the same duration ultimate yr. So it kind of feels that is now a pattern. The growth in demand for petrol could also be sluggish. This has not happened here in a few years,” an Indian Oil respectable told TOI.
Noted economist Abhirup Sarkar felt the sort of destructive growth in petro merchandise is highly odd. “The fall in demand of any inelastic just right like petrol or diesel should be a lot less than the proportionate build up in value,” he said.
Marginal growth in petrol demand
As in keeping with figures available with TOI from oil corporations, there was 1% destructive growth in diesel demand in April 2018 in comparison to April 2017 and six% degrowth in May 2018 over May 2017. “There was no degrowth in diesel until March 2018. In fact, April 2017 saw a 10% growth vis-a-vis April 2016. There was decent growth in May 2017 as neatly,” the IOC respectable said.
In case of petrol, the expansion in demand was only five.five% in April 2018 in comparison to the same month ultimate yr. The sluggish growth has continued in May as neatly with a marginal four% growth.
The reasonable value of petrol in April 2017 was Rs 69.eight within the state whilst in April 2018 it was Rs 76.three, an build up of virtually Rs 7. The reasonable diesel value was Rs 58.five in April 2017 and went as much as Rs 68.6 in April 2018, a bounce of Rs 10. It is from May-June ultimate yr that the costs of petrol and diesel began going up.
According to the respectable, destructive growth in diesel and sluggish growth in petrol have come about in spite of a large number of new automobiles being added up to now 12 months.
(With inputs from Krishnendu Bandyopadhyay)
After decades, Bengal sees dip in petrol, diesel demand
![After decades, Bengal sees dip in petrol, diesel demand]()
Reviewed by Kailash
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June 08, 2018
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