India’s Fuel Exports Fall 31% In May, Hit Lowest Level Since October 2022
New Delhi, June 02: India’s fuel exports witnessed a sharp decline in May, falling 31 per cent year-on-year to their lowest level since October 2022, reflecting weaker global demand and changing refinery economics.
The drop in exports comes as Indian refiners faced pressure from lower overseas demand, softer refining margins and rising domestic fuel consumption, which reduced the availability of products for international markets.
According to industry data, shipments of refined petroleum products including diesel, petrol and aviation fuel declined significantly during the month. Analysts believe global market volatility and fluctuating crude oil prices also contributed to the slowdown in export activity.
India, one of Asia’s largest fuel exporters, has been a key supplier of refined petroleum products to several international markets over the past few years. However, the latest figures indicate a notable cooling in overseas demand amid uncertain global economic conditions.
Experts say maintenance shutdowns at some refineries and changing trade flows may have also impacted export volumes during May.
The decline marks the lowest monthly fuel export level recorded since October 2022, highlighting the pressure currently facing the refining sector.
Despite the fall in exports, domestic fuel demand in India has remained relatively stable, supported by transportation, industrial activity and rising energy consumption across sectors.
Market observers will now closely watch global crude prices, refining margins and international demand trends to assess whether exports recover in the coming months.
