Sunday, August 01, 2021

Fuel demand picks up in July, petrol consumption reaches pre-COVID level

New Delhi: India's fuel demand picked up in July as easing of pandemic-related restrictions accelerated economic activity, helping petrol consumption reach pre-COVID levels, preliminary sales data showed on Sunday.

ATF consumption, which had seen the most severe fall as air travel was restricted beginning March 2020, is likely to return to normal by the end of the current fiscal in March, he had said.

With airlines yet to resume full-scale operations because of travel restrictions around the globe, jet fuel sales at 2,91,100 tonnes was up 29.5 per cent year on year but 53.1 per cent lower than July of 2019. India's oil demand had dropped by 0.5 million barrels per day in 2020, led by a steep weakening in transportation fuel, mainly in April-June 2020.

Extended lockdown measures, coupled with limitations on mobility, diminished oil product requirements. Petrol and jet fuel recorded historical declines compared with the same period in 2019. Diesel was down, in line with weakness in industrial activity, as well as in road construction and agriculture.

01/08/21 PTI/New Indian Express

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