Petroleum Shipments Earn India 50% More This April-September
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓India earned ₹2.59 lakh crore from petroleum product exports between April and September, a 50% jump.
- ✓Higher global fuel prices and a weaker rupee boosted these returns, even as shipment volumes fell by 16%.
- ✓An industry executive said, "Decline in export volume reflects tightening domestic surplus as demand expanded while production stagnated."
Story at a Glance
- Category
- BUSINESS
- Reported By
- Economic Times
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
India's earnings from petroleum product exports surged nearly 50% on-year in rupee terms to ₹2.59 lakh crore in April-September, as soaring international prices and a sharply weaker rupee boosted returns despite a 16% decline in shipment volume.
Earnings increased nearly 40% in dollar terms, according to petroleum and natural gas ministry data, reflecting a sharp rise in international fuel prices. Average regional benchmark prices for diesel and petrol climbed 83% and 54%, respectively, during the six months to September.
The gains were amplified by the rupee's depreciation. The currency averaged 95.17 to the dollar in April-September, against 86.44 a year earlier -- a slide of about nine rupees against the US currency.
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Economic Times
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