Fuel sales in India recover from June lows, still lower than last year, Energy News, ET EnergyWorld

Domestic fuel sales by Indian state-owned refiners rebounded in the first half of June, as the world’s third-largest oil consumer began to ease lockdown restrictions, though they are still lower at last year’s levels, preliminary data showed Wednesday.

Gasoline sales from June 1 to June 15 jumped 13% and diesel sales jumped 12%, compared to the same period last month, according to data compiled by state refiners.

India’s fuel demand in May fell to its lowest level since last August with a second wave of COVID-19 blocking mobility and reducing economic activity in the Asian country.

However, data showed gasoline sales fell 3.5% and diesel sales fell 7.5% in the first half of June, compared to the same period last year.

The state-owned companies – Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum Corp Ltd – own around 90 percent of the fuel retail outlets in India.

India’s fuel demand recovered in March to levels seen before the first wave of coronavirus early last year, but has declined since April due to restrictions amid skyrocketing infections.

Many states in India have now started to ease restrictions related to COVID-19, with the number of new infections falling to their lowest in more than two months.

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