India’s gasoline and gasoil sales jumped sharply in May compared with April, in a recovery from historic lows after a partial easing of the lockdown imposed to curb the coronavirus pandemic, provisional sales data showed on Monday.
But industry analysts expect a full-scale recovery to pre-Covid-19 consumption levels in India to be months away as the monsoon season approaches while manufacturing activities remain low and transportation demand takes a hit in some parts of the country.
State-retailers’ gasoline sales in May rose by about 83% from April to about 1.6 million tonnes. Sales of gasoil, which accounts for about two-fifths of the country’s overall fuel sales, rose by about 69% in May compared with April to 4.8 million tonnes, provisional sales data from state fuel retailers showed.
However, gasoline and gasoil sales in May are still down by about 36% and 31% respectively from a year earlier, after contracting more than 50% in April year on year.