India’s diesel exports in May posted a growth of 15.2% compared with the previous month and are set to rise further, as the arrival of monsoon rains is expected to slow domestic construction activity at a time when refiners are reaping rich returns on the back of lucrative refining margins, trade sources and analysts said. In addition, robust demand for Indian diesel cargoes overseas to fill the void in countries that have shunned Russian cargoes is expected to keep India’s overall oil product exports strong over the next two to three months, they added. “The arrival of monsoon is expected to lead to a dip in domestic gasoil demand, especially from the construction sector and trucking, and we expect that there will be an increase in diesel exports out of India in the third quarter […]