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Spike in winter demand for diesel in Europe offers huge scope for India

State-owned refiners are in a strong position to gain from the surging demand for diesel from Europe as winter sets in and natural gas supplies from Russia are set to dwindle on fresh sanctions

Topics
Diesel exports | Fuel Crisis | Europe

S Dinakar 



An industry expert, who requested anonymity, said: “Unless the government decides which companies will remain state owned and which will be privatised, the candidate pool will not expand”
Rising diesel prices also present an opportunity for India’s battered state oil refiners to salvage some of the losses

A looming global shortage of diesel in presents India with more than one opportunity to profit from strong margins. A shortage of the fuel, a key contributor to inflation, has been exacerbated by the conflict in Ukraine, and western sanctions on Russian fuel supplies. The slowdown in natural gas supply means the West needs diesel to heat their homes this winter. And India might have a solution to their problems — by exporting fuel to meet much of the continent’s needs. Rising diesel prices also present an opportunity for India’s battered state oil refiners to salvage some of the losses they are incurring on selling transport fuels at government-administered rate for months.

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First Published: Sun, November 27 2022. 17:47 IST

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