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Indian Fuel Sales Surge on Monthly Basis in May

OIL PRODUCTS

Indian fuel sales on monthly basis based on state refiner data:

  • Diesel sales rose 4.2% m/m in May to 7.47 million tons.
  • Gasoline +16.5% m/m at 3.09m tons.
  • Jet fuel sales -0.7% m/m at 609,800 tons.
  • LPG sales +11.3% m/m to 2.44m tons.
  • Rising domestic demand is being fuelled by record volumes of discounted Russian barrels in May according to the latest vessel tracking data.
  • Arrivals of Russian shipments to India in May are assessed to have reached a record high of 8.6 million tonnes (62.8 million barrels) according to Vortexa – while Kpler placed it at 66.7 million barrels.

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