Domestic demand drags fuel exports down 21%

New Delhi: The nation’s fuel exports fell 21% month-on-month in October as refiners prioritised festive domestic demand and diverted barrels to cover supply gaps from HPCL’s refinery outage, with Nayara Energy’s exports still held back by sanctions.

Fuel exports dropped to 1.25 million barrels per day (bpd) in October from 1.58 mbd in September, with shipments of all major fuels-petrol, diesel, and aviation turbine fuel (ATF)-declining, according to Kpler, a global real-time data and analytics provider. Diesel exports, which account for about half of India’s overall fuel exports, fell 12.5% month-on-month to 665,000 bpd.