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India Gasoline Sales Fall in Early June vs May

OIL PRODUCTS

India’s gasoline sales fell in the first 16 days of June by 3.6% compared to May levels, data from state-run Indian Oil and Bharat Petroleum and Hindustan Petroleum showed cited by Bloomberg.

  • Indian diesel sales over June 1-16 edged up by 0.1% on the month to 3.545m tons but were 3.9% lower on the year.
  • Gasoline sales fell by 3.6% on the month to 1.423m tons and up 0.9% year on year.
  • Jet fuel sales however fell by 4.5% m/m to 331k tons but were up 2.3% on the year.
  • LPG sales were also down 5.2% m/m to 1.241m tons but up 0.9% on the year.
  • India accounts for approximately 10% of global oil growth this year compared to 33% coming from China but is expected to be the largest source of growth by 2030.
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