Despite spike in retail prices, gas demand is healthy from automotive sector
Indraprastha Gas has reported that its volume sales during Q1FY23 have touched record highs. The company's latest data suggests that the volumes grew by 48 percent on a Y-o-Y basis to 7.9 million metric standard cubic meters per day.
According to figures released by the Society of Indian Automobile Manufacturers, CNG-powered cars in India accounted for 8.6 percent of total sales in FY22 as against 6.3 percent in the previous fiscal. What’s more, CNG commercial vehicles accounted for 9.59 percent of sales as against 4.46 percent in the year earlier.
At present, CNG is about 50 percent and 30 percent cheaper when compared with mineral-based fuels like petrol and diesel respectively.
Indraprastha Gas, which is a joint venture, promoted by GAIL, BPCL, and Delhi government in a statement said that during the quarter under review, its overall sales volume growth was 48 percent over the corresponding quarter in the last fiscal, with the average daily sale going up from 5.32 million metric standard cubic meter per day (mmscmd) to 7.89 mmscmd. On a product-wise breakup, CNG recorded sales volumes growth of 63 percent , while PNG recorded sales volumes growth of 17 percent in the quarter as compared to corresponding quarter last year.
The company has 652 CNG stations supplying fuel to 26997 buses, 347565 three-wheelers, 938920 cars/taxis totalling to 13,13482 units of vehicles.
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