OIL & GAS

BPCL sees petrol, diesel demand returning to pre-Covid levels in July

India’s gasoline and diesel demand is expected to return to pre-lockdown levels in July, an executive at the country’s second largest fuel retailer Bharat Petroleum Corp said on Thursday.

“The current demand for petrol and diesel is at 70% of levels seen before the lockdown,” Vijayagopal N, director of finance at BPCL, said in a call with analysts on Thursday.

Demand was recovering more quickly for gasoline than for diesel, he said, adding that it would take longer for consumption of other crude products such as bitumen and jet fuel to return to levels seen before the pandemic struck.

Analysts have said they expect a full recovery in demand for oil products to pre-COVID-19 levels in India to be months away, as manufacturing activities remain low and transportation demand takes a hit in some areas from the ongoing monsoon season.

Source
ET Energy World
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