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