Public sector oil marketing companies (PSU OMCs) reported a year-on-year growth of 5.5 per cent in LPG sales during the first half (H1) of FY 2024-25, selling 14.9 million metric tonnes (MMT). The northern region led with the highest consumption at 31 per cent, followed by the southern region at 27 per cent, the western region at 22 per cent, the eastern region at 17 per cent, and the northeastern region at 3 per cent.

Domestic packed LPG made up 89 per cent of the consumption, while the non-domestic, bulk, and auto LPG segments contributed 8.7 per cent, 2.2 per cent, and 0.3 per cent, respectively. During H1 FY 2024-25, PSU OMCs enrolled 21.9 lakh new domestic customers and added 36 new distributorships. As of October 1, 2024, PSU OMCs operated 211 LPG bottling plants across India, with a rated capacity of 22.9 MMT per annum and a tankage capacity equivalent to 16 days of consumption. Auto LPG sales during this period amounted to 37.5 TMT, with 83.3 per cent of the sales occurring in the southern region.

Regarding crude price trends, PPAC reported fluctuations in crude oil prices due to global demand concerns and geopolitical tensions. In September, Brent crude prices fell to a low of $70 per barrel because of subdued demand in the U.S. and China, but they recovered to $80 per barrel in October amid tensions in the Middle East. Prices later stabilized between $73 and $76 per barrel.

The average price of Brent crude for April-September 2024 was $82.60 per barrel, slightly lower than the $83.15 per barrel recorded in FY 2023-24. Similarly, the Indian basket of crude oil averaged $81.92 per barrel compared to $82.58 per barrel in the previous fiscal year.

In terms of revenue contributions, PPAC noted that the petroleum sector contributed Rs 1.83 trillion to the central exchequer during H1 FY 2024-25 through taxes, corporate income tax, dividends, and royalties. State exchequers received Rs 1.56 trillion during the same period. In FY 2023-24, the sector had contributed Rs 4.32 trillion to the central exchequer and Rs 3.19 trillion to state exchequers, highlighting its significant role in revenue generation for the government.