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India’s Diesel and Gasoline Sales Rose m/m in May

OIL PRODUCTS

India’s diesel and gasoline sales rose in May compared to April levels, data from state-run Indian Oil and Bharat Petroleum and Hindustan Petroleum showed.

  • Indian diesel sales rose 5.2% on the month to 7.406m tons but were 0.9% lower on the year.
  • Gasoline sales increased by 5.8% on the month to 3.151m tons and up 2% year on year.
  • Jet fuel sales however fell by 1.2% m/m to 657k tons but were up 5.5% on the year.
  • LPG sales rose by 0.3% m/m to 2.461m tons and 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.
  • India’s consumption is 39% attributable to diesel, 16% to gasoline, and 13% to LPG.
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