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Indian Fuel Demand Slumps Due To Monsoon

OIL PRODUCTS

Gasoline and Diesel sales among Indian state retailers declined in the first half of August both compared to July and versus the same period in 2022, according to Reuters, as monsoon rains disrupt industrial activity and road mobility.

  • State retailers sold 1.19m mt of gasoline in H1 August, down 5.2% from the same period in July and 8% on the year.
  • Diesel consumption also fell by 9.5% on the month and 5.7% on the year to 2.68m mt to in H1 August.
  • Demand in India, the world's third-biggest oil importer and consumer, typically recedes in the four-month monsoon season as parts of the country are affected by heavy floods. The monsoon season begins in June.

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