The country’s diesel sales in the first half of December rose from November and compared to the same period last year, preliminary sales data showed on Thursday, reflecting a pick up in industrial activity in the world’s third-biggest oil consumer.
Diesel sales by the country’s state fuel retailers were 2.87 million tonnes during December 1-15, the data compiled by state-owned refiners showed, up 17.9 per cent from the same period in November and up 3.3 per cent from a year ago. However, sales were down 1.68 per cent from the same period in 2019.
State retailers Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum Corp Ltd own about 90 per cent of the country’s retail fuel outlets.
Sales of diesel, which account for about two-fifths of India’s overall refined fuel consumption, are directly linked to industrial activity in Asia’s third-largest economy.
India’s manufacturing activity in November grew at the fastest pace in 10 months, buoyed by a strong pick-up in demand, according to a survey by IHS Markit’s Purchasing Managers’ Index.
Petrol sales during the period continued to stay above pre-COVID-19 levels as people continued to prefer using personal vehicles over public transport for safety reasons.
Sales were 1.12 million tonnes, up 16.2 per cent from the same period in 2019, 6.9 per cent higher than in November and up 5.9 per cent from a year ago, the data showed.
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