India's gasoil, gasoline sales surge on festive demand

Gasoline and Gasoil sales by Indian state refiners rose sharply in September from a year earlier, signaling a pick-up in industrial activity ahead of the festive season from this month, preliminary sales data showed.

India's gasoil, gasoline sales surge on festive demand
An employee stands next to a fuel pump at a fuel station in New Delhi, India, March 7, 2016. REUTERS/Adnan Abidi

NEW DELHI, Oct 2 (Reuters) - Gasoline and Gasoil sales by Indian state refiners rose sharply in September from a year earlier, signaling a pick-up in industrial activity ahead of the festive season this month, preliminary sales data showed.

Local fuel demand - a proxy for oil demand in Asia's third-largest economy - regularly slows during the four-month monsoon season from June.

State refiners' average daily gasoline sales rose 1.3% from August and were up 13.2% from a year earlier, the data showed.

Sales of gasoil in local markets increased by 4.6% from the previous month and by 22.6% from a year ago, the data shows.

India's gasoil consumption, which accounts for about two-fifths of the country's fuel demand, typically increases during the month-long festival season that ends with the celebration of Diwali as diesel-guzzling trucks hit the road and industrial activity gathers pace.

State retailers Indian Oil Corp, Hindustan Petroleum Corp, and Bharat Petroleum Corp Ltd own about 90% of the country's retail fuel outlets.

Below is a table of India's preliminary daily fuel sales data with volumes in thousand tonnes.

Refined Fuel Sept.2022 % Chg from Aug. %Chg yr/yr %Chg vs 2020
Gasoline 88.6 1.3 13.2 20.7
Gasoil 199.7 4.6 22.6 23.7
Jet Fuel 18.2 7.4 41.7 81.3
Liquefied Petroleum Gas 83.0 7.7 5.4 9.3
Reporting by Nidhi Verma; editing by Richard Pullin