Indian transport demand rebounds, jet fuel falls: preliminary data

Quantum Commodity Intelligence – Indian demand for road transport fuels rose sharply in June compared to May as the country unwound regional restrictions designed to curb the spread of the delta variant of Covid-19, but sales remain 10-20% lower than pre-pandemic levels and jet fuel demand is still poor.

According to preliminary data released by state-refiners, gasoline sales reached 2.21 million mt in June, up 30% on the month, but down 10% on June 2019 figures.

Diesel demand was 5.36 million mt, up 18.5% on the month, but down 19% on the year.

Demand for jet fuel was just 230,000 mt, down 4% on the month and 61% down on the year.

India, the world's fourth largest consumer of crude oil, started to unwind regional movement restrictions in June after daily cases fell from more than 400,000 in May to less than 50,000 by the end of June.

The country's demand for oil products fell to an eight-month low in May as travel restrictions kicked in, a dynamic that led to a chunky rise in oil exports.

Full figures published by the Petroleum and Planning Analysis Cell are due next week.