India’s fuel demand recovery loses steam amid local lockdowns, high prices and monsoon
NEW DELHI: India’s fuel demand recovery is losing steam amid sluggish economic revival, local lockdowns, arrival of monsoon and record prices.
Demand for diesel dropped 18% and petrol slipped 6% in the first half of July against the same period in June. Compared to the first fortnight of July 2019, the fall in sales has been 21% in case of diesel and 12% in petrol, according to industry executives.
The demand for jet fuel has dropped 67% year on year but risen 11% month on month for the first half of July. For cooking gas, the demand is down 7% year on year and up 12% month on month. These data are for sales by state-run companies.
