State retailers' diesel sales up 26.4% in October 1st half
Sales of diesel by state-run fuel retailers in the first half of October rose to 3.65 million metric tons, up about 26.4% from the same period in September, mainly because of the festive rush and busy farming and transport sectors.
State-run fuel companies kept prices low, even as global rates climbed due to conflicts abroad, pulling more buyers their way.
Compared with last year, diesel sales were also up by a solid 25.4%.
Wholesalers stock diesel ahead Diwali
With Diwali around the corner, wholesalers stocked up on diesel expecting steady demand.
Private players like Nayara Energy and Reliance Industries hiked prices and focused on exports to cash in on higher global margins.
Meanwhile, truck sales jumped 33.57% from August to September, showing just how much transportation is driving this diesel boom right now.