Indian state refiners posted an 8.4% rise in sales of gasoil to 3.45 million tonnes in the first half of April compared with the same period last month, preliminary sales data showed, indicating higher demand from the agriculture sector and a recovery in industrial activity.

Gasoil accounts for about two-fifths of refined fuel consumption in India and is directly linked to industrial activity.

While gasoil is mainly used by trucks, gasoline is used in passenger vehicles.

Sales of gasoline fell 6.6% to 1.14 million tonnes during the period, the data showed.

Sales of liquefied petroleum gas (LPG) also declined more than 6% to 1.1 million tonnes in the same period, and jet fuel sales were down nearly 4% at 284,600 tonnes, the data showed.

State-run companies – Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum – own about 90% of India’s retail fuel outlets.

Source: Reuters