India’s oil refiners are exporting gasoline and diesel at levels not seen in years, driven by higher crude throughput and increased ethanol blending ratios. Elevation in ethanol content—from 12% to 20% in certain fuel grades—has freed up surplus volumes for export, even as domestic demand softens during monsoon months.

Gasoline exports have surged to about 400,000 barrels per day, while gasoil/diesel shipments are projected between 560,000–630,000 bpd—a four-year high—helping India capture seasonal demand in Europe where many refineries are down for maintenance. Reliance and Mangalore Refinery & Petrochemicals are among the key exporters scaling supply.

Critics in the U.S. have accused India of profiteering—buying discounted Russian crude and refining it for export—but Indian officials defend the strategy as market stabilization. The move also strengthens India’s refining margins at a time when global supply chains are under strain.