Festive demand drives India's diesel sales in October, data shows
NEW DELHI: Indian diesel consumption is rising, driven by increased truck movement during the festival season and the nation’s efforts to shield motorists from higher global prices, according to industry sources and preliminary sales data. Global diesel prices have surged to record highs in many markets due to disrupted supply as the prolonged Iran war and the Russia-Ukraine conflict pose…
Indian diesel sales surged in October due to increased truck movement during festivals and efforts to counter higher global prices, according to preliminary data. State-run fuel retailers reported a 26.4% increase in diesel sales from September and a 25.4% rise compared to the same period last year, with total sales reaching 3.65 million metric tons.
Industry experts attribute this growth to agricultural needs and festival season transportation demands. The surge in diesel consumption is also driven by farmers relying on diesel-powered generators for irrigation purposes. Wholesalers have increased purchases, leading to larger truck fleets and inventory accumulation to meet festival season consumer demand.
Truck sales in September 2026 rose by 33.57% compared to August. State-owned Indian Oil Corp, along with Bharat Petroleum and Hindustan Petroleum, sell fuel at below-market rates to local consumers, incurring a loss of around 20 rupees ($0.21) per litre. Private retailers, however, have raised prices and are exporting fuel for higher margins.
Diesel is also used to generate electricity to meet growing power demand. As customers previously buying from private retailers switch to state-owned fuel outlets, gasoline sales at private stations have become more expensive compared to state retailers.
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