India’s daily gasoline consumption exceeded pre-pandemic levels last month as states relaxed COVID-19 related lockdowns while gasoil sales were low, signalling subdued industrial activity in July, showed preliminary sales data of state fuel retailers. Daily sales of gasoline rose to 76,500 tonnes in July, a jump of about 3.6 per cent over the corresponding 2019 period and 5.7% over June this year, preliminary industry data showed on Friday.
India’s gasoline sales recovered to pre-pandemic levels in October 2020 before a second deadly wave of infections began hitting the fuel’s demand in April.
Rising fuel sales in India, the world’s third-biggest oil importer and consumer, is a positive development for global oil markets.
With the easing of restrictions by the states after a decline in infections, motorists flocked to tourist destinations and markets, leading Indian Prime Minister Narendra Modi to warn against overcrowding.
Daily gasoil sales, which account for about two-fifths of India’s overall refined fuel consumption and is directly linked to industrial activity in Asia’s third-largest economy, was about 10.9% less than the same period of 2019, the data showed. It was about 3.5% lower than daily gasoil sales in June.
India Oil Corp, the country’s top refiner, hopes gasoil sales to recover to pre-pandemic levels by November if there would be no stringent lockdowns due to the third wave of COVID-19 infections, its chairman S. M. Vaidya said on Friday.
State-run IOC, Hindustan Petroleum Corp and Bharat Petroleum Corp Ltd own about 90% of the country’s retail fuel outlets.
- Loan defaults drop below pre-pandemic levels
- Cancer backlog could take decade to clear after Covid pandemic, damning report says
- India, UAE may sign comprehensive trade agreement by March
- Analysis-India state refiners to buy more light crude to boost gasoline output
- E-commerce cos to log 23% rise in gross GMV at over $9 billion during festive sale this year: RedSeer
- Mental health pandemic: Covid is taking terrible toll on our children's wellbeing
- 'Thousands will die' over the next decade because of a huge cancer care backlog, damning report reveals
- Nike warns on holiday delays, cuts full-year sales estimate
- Cancer backlog caused by pandemic may take more than a decade to clear
- Engaged with India on Covid-19 vaccine certification: UK
- Modi meets Kamala Harris, says India and America are ‘natural partners’
- More Chennaiites are stepping out, mostly to pharmacies, supermarkets | Chennai News - Times of India
- Next to post sales jump as investors seek update on trading momentum
- Banks, builders pin hopes of a revival on India festival season
- Amazon 'Great Indian Festival 2021' dates out, sale to begin from October 4
- Amazon India to host 'Great Indian Festival 2021' from Oct 4
- Ford Motor to close manufacturing plants in India after $2 billion loss
- New premium income down 11% for life insurers in July
India's July Gasoline Sales Above Pre-Pandemic Levels: Report have 462 words, post on www.carandbike.com at July 31, 2021. This is cached page on Auto News. If you want remove this page, please contact us.