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OIL PRODUCTS: India Fuel Sales Decline in First Half of August

OIL PRODUCTS

India’s oil product sales fell in the first half of August compared to July levels, data from state-run Indian Oil and Bharat Petroleum and Hindustan Petroleum showed cited by Bloomberg.

  • Indian diesel sales in H1 August fell by 15% on the month to 2.487m tons and were 7.9% lower on the year. The decline follows a 9.4% m/m decline in July.
  • Gasoline sales fell by 5.5% on the month to 1.221m tons but were up 3.0% year on year.
  • Jet fuel sales fell by 7.3% m/m to 286k tons and were up 1.9% down on the year.
  • LPG sales were down 6.5% m/m to 1.273m tons but up 4.8% on the year.
  • India's crude imports fell to 4.54mbpd in July from 4.76mbpd in June and 5.14mbpd in May, LSEG data showed, as the monsoon season approaches although are supported by solid economic growth.
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