By Nidhi Verma
NEW DELHI (Reuters) – Indian state fuel retailers’ sales slowed in January from the previous month after partial lockdowns in several states to stem the spread of coronavirus, preliminary sales data showed, indicating slower industrial activity.
The state retailers sold about 5.6 million tonnes of gasoil in January, a decline of 12.75% from December and of 6.85% from a year earlier, the data showed.
Gasoil accounts for about two-fifth of refined fuel consumption in India and is directly linked to industrial activity.
Since the start of this year, several states in the country have imposed varying degrees of restrictions including weekend curfews to contain infections caused by the highly transmissible Omicron variant of the coronavirus.
That led to India’s factory activity growth slowing to a four-month low in January.
The Manufacturing Purchasing Managers’ Index, compiled by IHS Markit from Jan. 12-25, fell to 54.0 in January as curbs hurt new orders and output, while high price pressures weighed on business confidence about the year ahead.
Gasoline sales in January were at 2.2 million tonnes, declining by 12.3% from December and by 5.4% from a year earlier, the data showed.
State retailers – Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp – control about 90% of India’s fuel stations.
Indian jet fuel sales also fell in January.
Below is a table of India’ preliminary daily fuel sales data, with volumes in thousand tonnes.
Refined Fuel Jan 2022 %Chg %Chg %Chg vs
mth/mth yr/yr Jan 2020
Gasoline 2,228.13 -12.33 -5.44 0.20
Gasoil 5,632.68 -12.75 -6.85 -8.96
Jet Fuel 415.39 -17.86 -0.13 -40.51
Liquefied Petroleum Gas 2,597.9 3.95 4.09 6.51
(Reporting by Nidhi Verma; Editing by Jan Harvey)
