India’s fuel demand plunges in May amid Covid-19 lockdowns, show data
Indian state refiners’ daily gasoline and gasoil sales declined by about a fifth in May from a month earlier as lockdowns to curb the second deadly wave of COVID-19 hit industrial activities and consumption, preliminary data showed on Tuesday.
Daily gasoline sales in May fell by about 19% from April while diesel consumption, which is linked to industrial activity and accounts for over two-fifths of India’s fuel demand, fell by 19.9%, data compiled by state refiners showed.
India’s factory activity growth slowed significantly in May as a rise in coronavirus cases whacked new orders and output, the Nikkei Manufacturing Purchasing Managers’ Index compiled by IHS Markit showed on Tuesday.
