New Delhi: Indian fuel demand was picked up in July as easing of restrictions related to the pandemic accelerating economic activity, helping gasoline consumption reach pre-covid levels, initial sales data showed on Sundays.
State-owned fuel retailers sell 2.37 million tons of gasoline in July, up 17 percent from this year the previous period.
It was 3.56 percent higher than pre-covid gasoline sales of 2.39 million tons in July 2019.
Diesel sales – the most widely used fuel in this country – rose 12.36 percent to 5.45 million tons in the previous year , but it fell 10.9 per cent from July 2019.
It is the second consecutive month that shows the increase in consumption since March.
Fuel demand has recovered to the almost normal level in March before the emergence of the second wave of Covid-19 infection causes the imposition of locking in various states, extending economic activity and condemning.
Consumption in May slumped to the lowest since August last year amid locking and restrictions in several countries.
Fuel demand shows signs of revival in June after restrictions began to subside and the economy gathered.
On July 30, S M Vaidya, the chair of the largest oil company in India IOC, has stated that gasoline consumption has increased over pre-covid levels because people prefer personal transportation of public transportation.
Diesel sales, he said, is likely to return to the pre-pandemic level by Diwali in November if the third wave of Covid infection does not lead to the locking reimbosis.
ATF consumption, which has seen the most severe fall when air travel is limited from March 2020, it is likely to return to normal at the end of the current fiscal in March, he said.
LPG consumption, the only fuel that shows growth even during the first lock because of the free supply by the government to the poor, up 4.05 percent year to 2.36 million tons in July.
Up 7.55 percent in July 2019.
With the airline has not continued a full-scale operation due to limiting travel around the world, the sale of jet fuel at 2.91,100 tons rose 29.5 percent year in the year but 53.1 percent lower than July In 2019.
Indian oil demand has dropped 0.5 million barrels per day by 2020, led by the weakening of bulk in transportation fuel, especially in April-June 2020.
Expanded locking actions, coupled with the limited requirements of oil products, reduced.
Gasoline and Jet fuel recording historical decrease compared to the same period in 2019.
Diesel fell, in line with weakness in industrial activities, as well as road and agricultural construction.