Record high pump prices hit India’s gasoline, gasoil sales in Feb

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NEW DELHI — Indian state refiners’ gasoline sales in the first two weeks of February fell below pre-pandemic levels, the first decline in about six months, preliminary industry data showed, as record high retail prices hit consumption.

Diesel sales, which are related closely to economic growth and account for about 40% of overall refined fuel sales in India, fell by 8.6% in the first half of February, the largest decline since August last year, the data showed.

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

State fuel retailers sold 1.03 million tonnes of gasoline and 2.84 million tonnes…