India’s Diesel, Gasoline Sales Taper Off Adding to Oil’s Gloom
- Fuel demand in India typically declines during monsoon rains
- July 1-15 fuel sales witness first monthly fall in 3 months
A gas station in New Delhi.
Photographer: Anindito Mukherjee/BloombergThis article is for subscribers only.
India’s gasoline and diesel sales during the first half of July dropped from last month as seasonal rains curtailed demand in the world’s third-biggest energy consumer, that could help keep a lid on oil prices.
The three biggest retailers sold 1.28 million tons of gasoline during July 1-15, down about 8% from the corresponding period in June, according to refinery officials with knowledge of the matter. Diesel sales fell almost 14% from last month, said the people, who asked not to be identified discussing unpublished data.