Indian state fuel retailers’ gasoline and gasoil sales rose in April from the previous month, preliminary sales data showed, indicating a pick up in economic activity.
Daily sales of gasoil rose by 8.3% to 238,500 tonnes in April compared with March, the data showed.
Gasoil accounts for about two-fifths of refined fuel consumption in India and is directly linked to industrial activity
India’s factory activity expanded at its quickest pace in more than four months in April to 57.2, driven by solid growth in new orders and output, the Manufacturing Purchasing Managers’ Index compiled by S&P Global showed on Monday.
Gasoil is mainly used by trucks, while gasoline is used in passenger vehicles.
State fuel retailers’ daily gasoline sales rose 2.9% to 88,200 tonnes, the data showed.
State-run retailers and refiners- Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum – own about 90% of India’s retail fuel outlets.
