Indian state refiners posted a 4.6% drop in sales of gasoil to 3.18 million tonnes in the first half of March from the same period last month, preliminary sales data showed, indicating slower economic 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 0.5% to 1.22 million tonnes during the period, the data showed.

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