Fuel demand recovery falters in July amid record Covid cases, lockdowns, high prices
Fuel demand recovery stalled in July amid record rise in coronavirus cases, lockdown by states and high fuel prices.
Demand for diesel in July dropped 12.5% over June, halting a swift recovery witnessed in May and June. Petrol sales in July also fell 1% compared to June. Diesel and petrol sales are down 21% and 11%, respectively, in July from a year earlier, according to industry executives. The figures are for sales by state-run fuel retailers who control 90% of the market.
The sale of aviation turbine fuel (ATF) rose 3.8% in July from a month earlier but is down 65% from the July of 2019 due to the absence of international flights and limited domestic operations. Sales of liquefied petroleum gas, used mainly as cooking fuel in India, rose 10% month on month and were up 3.4% year on year.
