Despite price hikes, daily petrol sales increase compared to last year: Report

Indian state refiners’ daily gasoline sales in February rose by 1.5% from a year earlier, its slowest pace of growth in six months, preliminary industry data showed, as record-high retail prices hit consumption.

State-refiners’ daily diesel sales, which are related closely to economic growth and account for about 40% of overall refined fuel sales in India, fell by 5.3% in February, the largest decline in three months, the data showed.

According to the Maharashtra State Electricity Transmission Co, which operates four 400kV (kilo-volt) transmission lines fetching power to Mumbai, the blackout was because of pending maintenance work at substations and a mismatch between power demand and supply, which caused key transmission lines to trip

Gasoline and gasoil prices in India have risen to record highs, mirroring global markets. Taxes account for about 61% of retail gasoline prices and about 56% of diesel prices.

State fuel retailers sold 2.22 million tonnes of gasoline and 5.81 million tonnes of diesel last month, the data provided by an industry source showed.

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