India’s Fuel Demand Extends Recovery In June – carandbike

India’s Fuel Demand Extends Recovery In June – carandbike

Petrol gross sales in June rose by about 36% from Could to about 2.04 million tonnes, whereas diesel gross sales, which accounts for about two-fifths of the nation’s total gasoline gross sales, rose by about 20% in June in contrast with Could to five.54 million tonnes.




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Petrol and diesel gross sales in June are nonetheless down by about 15% and 17.1% respectively from a 12 months earlier

India’s gasoline consumption rose in June in contrast with Could, persevering with with a gradual restoration as industrial and transport sectors reopened after a stringent lockdown, a authorities assertion issued on Wednesday mentioned. Gasoline consumption – a proxy for oil demand in Asia’s third largest financial system – totalled 11.eight million tonnes in June, a decline of about 12% from a 12 months earlier, it mentioned. The nation’s gasoline demand nearly halved in April to the bottom since 2007 because the nation got here to a standstill after it went right into a lockdown on March 24 to curb the unfold of the coronavirus.

Additionally Learn: Gasoline Charges Stabilise; Petrol, Diesel Costs Stay Unchanged On 2nd Consecutive Day

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Petrol gross sales in June rose by about 36% from Could whereas diesel gross sales rose by about 20% in June

State-retailers’ petrol gross sales in June rose by about 36% from Could to about 2.04 million tonnes. Gross sales of diesel, which accounts for about two-fifths of the nation’s total gasoline gross sales, rose by about 20% in June in contrast with Could to five.54 million tonnes. Nonetheless, petrol and diesel gross sales in June are nonetheless down by about 15% and 17.1% respectively from a 12 months earlier.

Additionally Learn: Diesel Continues To Be Costlier Than Petrol In Delhi, However Moderately Cheaper In Different Metro Cities

Oil minister Dharmendra Pradhan final week mentioned gasoline demand might normalise by the top of September. State corporations Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum personal about 90% of the retail gasoline retailers in India.

Additionally Learn: Petrol And Diesel Value Revision Halts After 21 Days

Gross sales of liquefied petroleum gasoline (LPG) rose practically 17% in June from a 12 months in the past whereas jet gasoline declined by 67.3% throughout the identical interval. Demand for industrial fuels equivalent to petcoke, naphtha and marine gasoline additionally rose in June in comparison with a 12 months earlier, indicating a pick-up in industrial exercise.

To satisfy rising gasoline demand, state refiners boosted crude processing to about 85% of designed capability in comparison with about 55% firstly of April, the assertion added.

(This story has not been edited by employees and is auto-generated from a syndicated feed.)

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