The country’s diesel sales in the first half of December were up from November and year-on-year, preliminary sales data showed on Thursday, reflecting an increase in industrial activity in the country. third largest oil consumer in the world.
Diesel sales by the country’s state-owned fuel retailers were 2.87 million tonnes during December 1-15, figures compiled by state-owned refineries show. saw an increase of 17.9% over the same period in November and an increase of 3.3% from a year ago. However, sales were down 1.68% year-on-year in 2019.
State-owned retailers Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum Corp Ltd own about 90% of the country’s fuel retail stores.
Diesel sales, which account for about two-fifths of India’s total refined fuel consumption, are directly linked to industrial activity in Asia’s third-largest economy.
India’s manufacturing activity grew at the fastest pace in 10 months in November, buoyed by strong demand, according to the IHS Markit Purchasing Managers’ Index survey.
Gasoline sales during this time continue to stay above COVID-19 levels before people continue to prefer using private vehicles over public transport for safety reasons.
The data showed that sales were 1.12 million tons, up 16.2% year-on-year, 6.9% higher than November and up 5.9% year-on-year.
