Petrol, diesel consumption jumps despite price rise

Despite a sharp jump in prices, the consumption of petrol and diesel has increased in the recent months, government sources said.

Talking to ANI, a government source said petrol consumption increased by 14 per cent in April when compared with the previous month, while diesel consumption grew by 2 per cent during this period.

On high prices of petroleum products, the sources said that petrol and diesel prices would come down as soon as the global situation comes under control.

Petrol and diesel prices were hiked 14 times between March 22 to April 6. Petrol in Delhi costs Rs 105.41 per litre while diesel costs Rs 96.67.

Petrol and diesel prices were last hiked by 80 paise a litre each on April 6. According to the source, India has accelerated bio-fuel mixing and by April 1, 2023 country will have 20 per cent blended fuel at all the petrol pumps.

Talking about green hydrogen, he said that green hydrogen has made phenomenal progress.

Prime Minister Narendra Modi government has announced a national green hydrogen policy with a target of producing 5 million tonnes per annum by 2030. It provides tax breaks and allots land to set up plants.

Green Hydrogen is a clean fuel produced by splitting water into hydrogen and oxygen.