KOLKATA: Defying economic logic of inelastic call for of petroleum merchandise, diesel, which has noticed a pointy spike in worth up to now twelve months, has witnessed a negative expansion in call for within the state for two consecutive months, April and May.
Petrol is not some distance in the back of. Its expansion in call for has dropped to a unmarried digit , a phenomenon now not witnessed in Bengal in lots of decades, say oil company officials. The worth of each petro merchandise though have fallen marginally in ultimate 7 days but the sluggish expansion is continuous, mentioned sources.
The call for for petrol and diesel is considered ‘inelastic’, implying that their call for does now not pass down much with build up in worth.
“There is a degrowth within the call for of diesel for two consecutive months in comparison to the similar period ultimate 12 months. So it sort of feels this is now a trend. The expansion in call for for petrol is also sluggish. This has now not came about here in many years,” an Indian Oil respectable told TOI.
Noted economist Abhirup Sarkar felt the sort of negative expansion in petro merchandise is very peculiar. “The fall in call for of any inelastic excellent like petrol or diesel will have to be much not up to the proportionate build up in worth,” he mentioned.
Marginal expansion in petrol call for
As per figures available with TOI from oil companies, there used to be 1% negative expansion in diesel call for in April 2018 in comparison to April 2017 and six% degrowth in May 2018 over May 2017. “There used to be no degrowth in diesel until March 2018. In truth, April 2017 noticed a 10% expansion vis-a-vis April 2016. There used to be respectable expansion in May 2017 as neatly,” the IOC respectable mentioned.
In case of petrol, the growth in call for used to be simplest five.five% in April 2018 in comparison to the similar month ultimate 12 months. The sluggish expansion has endured in May as neatly with a marginal 4% expansion.
The average worth of petrol in April 2017 used to be Rs 69.eight within the state whilst in April 2018 it used to be Rs 76.three, an build up of just about Rs 7. The average diesel worth used to be 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 12 months that the costs of petrol and diesel began going up.
According to the respectable, negative expansion in diesel and sluggish expansion in petrol have come about regardless of a lot of new vehicles being added up to now 12 months.
(With inputs from Krishnendu Bandyopadhyay)
Petrol is not some distance in the back of. Its expansion in call for has dropped to a unmarried digit , a phenomenon now not witnessed in Bengal in lots of decades, say oil company officials. The worth of each petro merchandise though have fallen marginally in ultimate 7 days but the sluggish expansion is continuous, mentioned sources.
The call for for petrol and diesel is considered ‘inelastic’, implying that their call for does now not pass down much with build up in worth.
“There is a degrowth within the call for of diesel for two consecutive months in comparison to the similar period ultimate 12 months. So it sort of feels this is now a trend. The expansion in call for for petrol is also sluggish. This has now not came about here in many years,” an Indian Oil respectable told TOI.
Noted economist Abhirup Sarkar felt the sort of negative expansion in petro merchandise is very peculiar. “The fall in call for of any inelastic excellent like petrol or diesel will have to be much not up to the proportionate build up in worth,” he mentioned.
Marginal expansion in petrol call for
As per figures available with TOI from oil companies, there used to be 1% negative expansion in diesel call for in April 2018 in comparison to April 2017 and six% degrowth in May 2018 over May 2017. “There used to be no degrowth in diesel until March 2018. In truth, April 2017 noticed a 10% expansion vis-a-vis April 2016. There used to be respectable expansion in May 2017 as neatly,” the IOC respectable mentioned.
In case of petrol, the growth in call for used to be simplest five.five% in April 2018 in comparison to the similar month ultimate 12 months. The sluggish expansion has endured in May as neatly with a marginal 4% expansion.
The average worth of petrol in April 2017 used to be Rs 69.eight within the state whilst in April 2018 it used to be Rs 76.three, an build up of just about Rs 7. The average diesel worth used to be 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 12 months that the costs of petrol and diesel began going up.
According to the respectable, negative expansion in diesel and sluggish expansion in petrol have come about regardless of a lot of new vehicles being added up to now 12 months.
(With inputs from Krishnendu Bandyopadhyay)
Bengal sees dip in petrol, diesel demand
![Bengal sees dip in petrol, diesel demand]()
Reviewed by Kailash
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June 08, 2018
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