Covid-19 to shave-off 20-25 pc of auto fuel demand in the month of April

India’s second wave of coronavirus infections and the resultant city and state-specific restrictions may shave-off about 20-25 per cent of auto fuel demand in April, consultancy Wood Mackenzie said on Thursday and estimated a modest impact on oil demand in the absence of a full nationwide lockdown.

India’s COVID crisis shows no sign of slowing. The country has reported new cases above 3 lakh per day for two weeks straight, though experts think the true number is likely to be far higher, it said. “Yet despite increasing calls for the government to impose a nationwide lockdown to reduce the rate of infection, Prime Minister Narendra Modi has so far resisted, citing the economic impact on an already suffering population.”