Autogas sales increased in India
The Autogas sector in India closed the fiscal year 2016-17 with an encouraging sales growth of 5% over the last fiscal. Meanwhile, the sales volume growth was about 8.18% in March 2017 as against March 2016. The Autogas sales in India grew to 346 TMT in 2016-17 as against 330 TMT in 2015-16.
“There is no doubt that LPG is the fuel for the future, and that it is the solution to check the growing pollution levels in Indian cities. We are positive about the growth in sales volume achieved this fiscal as it reflects the growing penetration of the fuel across the country. However, we are hopeful of much more positive growth figure in the coming year as the GST (Goods and Services Tax) regime rolls out, bringing the commercial and domestic LPG prices at par with each other,” said Suyash Gupta, Director General of the Indian Auto LPG Coalition (IAC).
“With the GST regime, the government has promised to bring both the commercial LPG and domestic LPG under a singular tax rate. This will encourage users to turn to Autogas. At the same time, both public and private sectors shall feel encouraged to invest more in the sector. We are sure we will be looking at significantly impressive growth rates next year,” Gupta added.
The factor that helped the industry to achieve this growth are the reduction in Autogas price by leading oil companies such as Indian Oil, HPCL, and BPCL since October 2016 making the fuel about 50% cheaper than petrol. Following this, the sales jumped by 16% in the period between 1 October 2016 and 31 December 2016.
Globally, Autogas is the third most commonly used automotive fuel after petrol and diesel. Over 26 million vehicles across 70 countries use Autogas to help clean their urban environment. If you want to know more, please visit this link.