India’s Petrol Demand Falls By 10.3 Per Cent As COVID-19 Crisis Worsens
Demand for diesel also declined about 19.3% over last year.
India’s fuel demand was weakened by a big margin by this year’s COVID-19 outbreak, as can be inferred from the data released by the Petroleum Planning and Analysis Cell (PPAC) of the Ministry of Petroleum & Natural Gas. Compared to last year, the demand for petrol fell by 10.3%, whereas the demand for diesel fell 19.3%. Consumption of refined fuels – a proxy for oil demand, fell to 15.68 million tonnes in July, which is 11.7% lower compared to last year. There’s also a 3.5% drop in the demand compared to last month.
The COVID-19 pandemic has left more than 2 million people infected in the country. That number puts India in third place in terms of the number of detected cases, behind the United States and Brazil. When a full lockdown was in place, the country’s fuel consumption was nearly halved. As if that wasn’t enough, heavy rains and floods in several parts of the country have also affected the consumption of fuels this year.
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