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, signalling a pick-up in industrial activity ahead of the festive season from 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 was 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             83.0              7.7         5.4           9.3          

          Petroleum Gas                                                      

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