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India’s fuel exports fall 21% in October: Domestic demand surges; HPCL and Nayara hit by disruptions – The Times of India

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India’s fuel exports fall 21% in October: Domestic demand surges; HPCL and Nayara hit by disruptions – The Times of India


India’s fuel exports drop

India’s fuel exports dropped 21% month-on-month in October as refiners prioritised domestic demand during the festive season and redirected supplies to cover gaps caused by Hindustan Petroleum Corporation Ltd’s (HPCL) refinery outage. Exports remained constrained for Nayara Energy due to sanctions.Fuel shipments fell to 1.25 million barrels per day (bpd) in October from 1.58 mbd in September, with exports of petrol, diesel, and aviation turbine fuel (ATF) all declining, according to Kpler, a global real-time data and analytics provider. Diesel, which makes up about half of India’s total fuel exports, decreased 12.5% month-on-month to 665,000 bpd.“The drop likely reflects stronger domestic demand, a greater share of output redirected to the local market, and operational constraints such as HPCL’s Mumbai refinery issues and ongoing maintenance at other sites,” said Sumit Ritolia, lead research analyst-refining and modelling at Kpler, as quoted by ET. “We may see a pickup in exports during November and December, as refiners rebalance runs and domestic demand eases slightly,” he added.HPCL had to shut one of its processing units after receiving contaminated crude from Hindustan Oil Exploration Company, creating tightness in fuel supply that private refiners helped ease.Reliance Industries and Rosneft-backed Nayara Energy experienced the most significant decline in exports. Nayara, affected by sanctions and unable to access traditional export markets, focused on the domestic market, supplying 90,000 bpd locally in October—50% higher than in September and the highest since January. Government support, including doubling train capacity for fuel transport, helped the company meet local demand.Domestic fuel consumption showed mixed trends in October. Petrol sales rose 7% year-on-year, driven by festive travel and vehicle purchases. Diesel sales fell slightly by 0.5% after a strong 6% rise in September. ATF sales increased 1.6%, while liquefied petroleum gas (LPG) sales grew 5.4%. Private refiners recorded higher sales velocity compared to state-run counterparts.





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Tariff jitters: US consumer confidence slips in December; inflation and jobs worries deepen – The Times of India

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Tariff jitters: US consumer confidence slips in December; inflation and jobs worries deepen – The Times of India


US consumer confidence weakened in December, sliding to its lowest level since President Donald Trump rolled out sweeping tariffs earlier this year, as households grew more anxious about high prices, trade levies and job prospects, according to a survey by the Conference Board.The Conference Board said its consumer confidence index fell 3.8 points to 89.1 in December from an upwardly revised 92.9 in November, AP reported. The reading is close to the 85.7 level recorded in April, when the Trump administration introduced import taxes on key US trading partners, AP reported.Consumers’ assessment of current economic conditions saw a sharper drop. The present situation index fell 9.5 points to 116.8, reflecting growing unease about inflation and employment conditions. Write-in responses to the survey showed that prices and inflation remained the biggest concern for consumers, alongside tariffs.Short-term expectations for income, business conditions and the labour market were little changed at 70.7, but remained well below 80 — a threshold that can signal a recession ahead. This was the 11th straight month that expectations stayed under that level.Perceptions of the job market also weakened. The share of consumers who said jobs were “plentiful” fell to 26.7% in December from 28.2% in November, while those who said jobs were “hard to get” rose to 20.8% from 20.1%.The softer sentiment follows recent labour market data showing mixed signals. Government figures released last week showed the US economy added 64,000 jobs in November after losing 105,000 jobs in October. The unemployment rate climbed to 4.6% last month, its highest level since 2021.Economists say the labour market is stuck in a “low hire, low fire” phase, as companies remain cautious amid uncertainty over tariffs and the lingering effects of high interest rates. Since March, average monthly job creation has slowed to about 35,000, down from 71,000 in the year ended March. Federal Reserve chair Jerome Powell has said he suspects those figures could be revised even lower, AP reported.



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US economy grows at fastest pace in two years

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US economy grows at fastest pace in two years


The US economy picked up speed over the three months to September, as consumer spending jumped and exports increased.

The world’s largest economy expanded at an annual rate of 4.3%, up from 3.8% in the previous quarter. That was better than expected, and marked the strongest growth in two years.

The figures offer a clearer picture of the state of the US economy heading into the end of the year, after data collection had been delayed by the US government shutdown.

The report showed consumer spending rising by 3.5%, compared with 2.5% in the previous quarter.



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Fish and chip shop offers 100 free Christmas meals in Southampton

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Fish and chip shop offers 100 free Christmas meals in Southampton


“It’s just a way of us giving back to the community,” says a fish and chip shop owner, who is giving away 100 free meals on Christmas Eve.

Raj Khaira, from Southampton, has owned Top Catch fish and chips in Shirley for five years and says he wants to support lonely people in the area.

He says he feels lucky to have a big family but knows for some customers a conversation with a shopkeeper might be the only one they have some days.

He says the shop will give portions of sausage and chips to those in need as a way of “giving back to the people who haven’t got family around them and sometimes can’t afford a hot meal”.

Mr Khaira speaks about working in business all of his life and how much he enjoys meeting “different people every day, from different backgrounds”.

“I’ve done it since I was a young kid so it’s all I really know,” he says.

He adds that many of his customers are elderly and do not have connections over the festive period.

“Christmas for majority of us is probably going to be a joyful and busy day but for some people it’s probably going to be a quiet day,” he says.

After posting about the plans to donate on social media he received a lot of publicity and Mr Khaira is prepared to “probably do more than” 100 meals.

He says the shop has already organised a toy and present drop off to Southampton hospitals this December, with many of the donations coming from customers.

He says: “We’re only where we are as a busy shop because of our community and our lovely customers that come in and sometimes you’ve got to give back and I’m happy to do that.”

Looking back on some of the negative news reported in Shirley earlier this year with the rise in anti-social behaviour in the area, he admits he had suffered.

His shop window was smashed in the summer, but he says: “Christmas time lets us just try and forget that for a minute and just try and have a good time, and reflect back on the year and hopefully next year is going to be a better one.”



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