OIL & GAS

India’s August fuel consumption posts biggest monthly decline since April

India’s fuel demand slipped further in August and posted its biggest monthly decline since April, as a surge in coronavirus infections continue to throttle economic activity and transportation, government data showed on Wednesday

Coronavirus cases has soared past 4.3 million on Wednesday making India the second worst-hit country in the world.

Sales of refined fuels, a proxy for oil demand, fell to 14.39 million tonnes in August, about 16% lower from a year earlier, its sixth consecutive year-on-year slide.

It also fell 7.5% from the prior month, its biggest month-on-month decline since April, data from the Petroleum Planning and Analysis Cell (PPAC) of the Ministry of Petroleum and Natural Gas showed.

Source
deccan herald
Show More

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button
Close
Close