India Reaps Export Windfall as U.S., Europe Scamper for Fuel
- Refiners shipped gasoline and diesel at near-record volumes
- Reliance Industries defers maintenance to produce more diesel
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India, the world’s third-biggest oil consumer, shipped out gasoline and diesel at near-record volumes in March to profit from the high margins in selling the fuels abroad.
Refiners in India exported 3.37 million tons of diesel in March, the highest since April 2020, when overseas sales were a record 3.4 million tons as local demand plummeted during the Covid-19 lockdown, according to data on Petroleum Planning and Analysis Cell’s website. Gasoline exports reached a five-year high of 1.6 million tons.