Fuel retailers in India are scampering for liquefied petroleum gas ahead of the nation’s most celebrated festival, as demand looks set to climb just as drone attacks on Saudi Arabian facilities hurt exports.
Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp are scouring the market for prompt LPG supplies for delivery before Diwali in late October, after Aramco deferred some shipments, said an official from Indian Oil, the nation’s biggest fuel retailer. The surge in buying interest comes amid a tight Asian market, with Bharat Petroleum’s buy tender attracting no offers this week.
