Petrol and Diesel Sales Surge in India Amid Agricultural Demand
In India, petrol and diesel sales have surged significantly in July, driven by increased demand from the agricultural sector due to below-normal monsoon rainfall. State-owned oil marketing companies, including Indian Oil Corp, Bharat Petroleum Corp Ltd, and Hindustan Petroleum Corp Ltd, reported a 9.7% increase in petrol sales, reaching 3.45 million tonnes compared to the previous year. Diesel sales, a key economic indicator, rose by 10.7% year-on-year to 7.12 million tonnes. The late arrival of monsoon rains led to increased use of diesel for irrigation during the peak sowing season. However, sales of liquefied petroleum gas (LPG) have declined due to a shift towards piped natural gas following supply disruptions from the West Asia crisis.