Diesel sales rise as economic activity picks up

Indian state fuel retailers’ diesel sales rose 7.4% to 2.84 million tonnes in the first fortnight of March from a year earlier, preliminary industry data showed on Tuesday. Petrol sales rose 5.3% to 1.05 million tonnes in the same period from a year earlier, the data showed. This is the first annual rise in gasoil sales in the country since October. Fuel sales in India took a hit in March last year as the government imposed a nationwide lockdown to curb the spread of the novel coronavirus.

India’s economy returned to growth in the three months to December and the recovery is expected to gather pace as consumers and investors shake off the effects of the COVID-19 pandemic.