India’s imports of very-light grade base oils fell in March to their second-lowest level in more than two years even amid a further drop in prices for the supplies.Imports of around 110,000t in March fell from 115,000t the previous month and average volumes of 145,000 t/month in 2022, provisional customs data showed.Shipments fell even as imported prices for the supplies fell in March to their lowest since the second quarter of last year.The lower price increased their discount to India’s retail diesel prices to the widest level since May 2022.Imports are unlikely to fall much lower as blenders seek sufficient volumes to cover requirements for steady lubricants production..India’s March base oils imports stay low
India’s imports of very-light grade base oils fell in March to their second-lowest level in more than two years even amid a further drop in prices for the supplies.Imports of around 110,000t in March fell from 115,000t the previous month and average volumes of 145,000 t/month in 2022, provisional customs data showed.Shipments fell even as imported prices for the supplies fell in March to their lowest since the second quarter of last year.The lower price increased their discount to India’s retail diesel prices to the widest level since May 2022.Imports are unlikely to fall much lower as blenders seek sufficient volumes to cover requirements for steady lubricants production..India’s March base oils imports stay low
