Fuel sales plunge to lowest in year in India as states lock down for Covid

Gasoline sales in India, the world’s biggest market for motorcycles and scooters, collapsed to the lowest level in a year as a devastating second wave of Covid-19 infections savaged consumption.

Average daily sales in May declined by almost a fifth from the previous month as strict stay-at-home orders across large parts of the country crippled demand, according to people familiar with preliminary data from the country’s three biggest retailers. Overall, monthly sales were the lowest since May 2020.

Oil demand across wide swathes of Asia has been hurt by resurgent coronavirus waves in recent months, clouding a generally positive global picture as sales in the U.S. and Europe pick up.