Rise in fuel sales towards the last few months in 2020 indicates economic recovery: Indian Oil

IMG_0733.jpg

Despite disruptions in commercial activities due to the COVID-19 crisis, sales of motor spirit and diesel have increased during 2020, which indicates a revival of the economy, Indian Oil Corporation (IOC) said last week. During 2020, sales of motor spirit have increased by 108 per cent and diesel by 96 per cent over the previous year, […]

Read more

India’s fuel demand continues to weaken as coronavirus crisis worsens

petrol-station1.jpg

India’s fuel demand dragged lower in July, posting its fifth consecutive year-on-year decline, government data showed on Tuesday as a spike in coronavirus cases and floods in many parts of the country restricted economic activity. Consumption of refined fuels, a proxy for oil demand, fell to 15.68 million tonnes in July, 11.7 per cent lower compared with […]

Read more

Government confident India’s fuel demand will return to pre-COVID levels: Pradhan

IMG_0733.jpg

Fuel demand in India, the world’s third-largest oil importer and third-largest oil consumer, is set to rebound to pre-crisis levels by the end of September, Oil and Petroleum Minister Dharmendra Pradhan said at the virtual Bloomberg-NEF Summit in New Delhi.   India’s fuel sales in June reached 88 per cent of the pre-COVID-19 levels as easing of lockdown […]

Read more