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India’s Fuel Demand Continues To Recover In June: Report

Indian state-refiners’ petrol and diesel gross sales rose in June in contrast with May, persevering with with a gradual restoration because the nation relaxed lockdown geared toward stemming unfold of COVID-19, provisional gross sales knowledge confirmed on Wednesday.

State-retailers’ gasoline gross sales in June rose by about 36 per cent from May to about 2.04 million tonnes.

Sales of gasoil, which accounts for about two-fifths of the nation’s total gas gross sales, rose by about 20 per cent in June in contrast with May to five.54 million tonnes, provisional gross sales knowledge confirmed.

However, petrol and diesel gross sales in June are nonetheless down by about 15 per cent and 17.1 per cent respectively from a yr earlier.

Fuel consumption- a proxy for oil demand within the economy- plunged to the bottom since 2007 in April because the nation got here to a standstill because of the lockdown that was put in place on March 24.

Oil minister Dharmendra Pradhan final week stated gas demand may normalise by end-September.

State corporations Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum personal about 90 per cent of the retail gas retailers in India.

The sources who supplied the provisional business knowledge requested to not be recognized citing confidentiality.

Sales of liquefied petroleum gasoline (LPG) rose practically 17 per cent in June from a yr in the past whereas jet gas declined by 67.three per cent throughout the identical interval.

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