A recovery in fuel demand in India gathered momentum in the first half of May versus April as curbs on transport and industrial activity were partly lifted in areas that have contained the spread of coronavirus, data from industry sources showed.
Demand for refined fuel is expected to get another boost from Monday as India has lifted more restrictions under its extended lockdown that runs until May 31.
Fuel demand growth in India, the world’s third-biggest oil importer and consumer, plunged to historic lows in April.
State-refiners’ petrol sales in the first half of May declined by 47.5 per cent to 570,000 tonnes from a year ago but were up from 334,000 tonnes sold in the first half of April. In April, petrol sales declined by 61 per cent.
