Preliminary data from Indian Oil Corp (IOCL) showed sales of gasoline and diesel by Indian state refiners declined in the first half of July compared to the same period last month due to rising retail prices amid renewed lockdown in parts of the country. Fuel demand in the country fell to an all-time low in April when the government imposed a nationwide lockdown.
IOCL data showed state-refiners’ diesel sales fell to 2.2 million tons in the first half of July, 18% lower than the same period in June and about 21% below the a-year-ago level. Meanwhile, gasoline sales dropped 6.7% month-on-month and 12% year-on-year to 880,000 tons in the same period. IOCL and fellow state refiners HPCL and BPCL own roughly 90% of retail fuel stations in India.
In New Delhi, diesel prices hit a record high of INR81.35 ($1.09) a litre on Friday, slightly above gasoline prices. India’s total refined fuel consumption includes fuel oils, LPG and bitumen. State refiners’ LPG sales increased 6.5% year-on-year to 1.075 million tons in the first half of July.
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Published on July 20, 2020 10:56 AM (GMT+8)Last Updated on July 20, 2020 10:56 AM (GMT+8)
