Festival demand spurs India’s gasoil consumption to above pre-Covid levels

India’s gasoil consumption in October rose above pre-COVID levels for the first time in a year, as increased industrial activity ahead of the festival season spurred demand for the fuel.

The country’s factory activity expanded in October at its quickest pace in eight months on strong demand and increased output, according to the Manufacturing Purchasing Managers’ Index, compiled by IHS Markit.

Gasoil sales totalled 5.86 million tonnes last month, equivalent to 189,200 tonnes per day, up 1.27% from October 2019, but a decline of 5.08% from the same month last year, preliminary sales data of state fuel retailers showed.

Gasoline sales at 2.48 million tonnes rose by 3.93% from a year earlier, the data showed.