India’s fuel demand nearly halves in April amid lockdown
India's fuel demand dipped 45.8 per cent in April from a year earlier, as a nationwide lockdown and travel curbs to combat the spread of the novel coronavirus eroded economic activity. PHOTO: REUTERS. Sketched by the Pan Pacific Agency.
NEW DELHI, May 10, 2020, NBC News. India’s fuel demand dipped 45.8 percent in April from a year earlier, as a nationwide lockdown and travel curbs to combat the spread of coronavirus eroded economic activity in the country, NBC News reported.
Consumption of fuel, a proxy for oil demand, totaled 9.93 million tonnes — its lowest since 2007, government data showed on Saturday. State fuel retailers in India sold 50 percent less refined fuel in the first two weeks of April than the same time a year earlier, as the country came to a standstill due to the lockdown that was put in place on March 24.
The government last week extended the lockdown until May 17, with some relaxations in lower-risk areas, although travel by air, rail and metro and inter-state movement of people by road was still banned. India has reported nearly 60,000 cases as of Saturday, according to Johns Hopkins University data.
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