Indian state-refiners’ gasoline and gasoil gross sales rose in June in contrast with Could, persevering with with a gradual restoration because the nation relaxed lockdown aimed toward stemming unfold of COVID-19, provisional gross sales knowledge confirmed on Wednesday.
State-retailers’ gasoline gross sales in June rose by about 36% from Could to about 2.04 million tonnes. Gross sales of gasoil, which accounts for about two-fifths of the nation’s general gasoline gross sales, rose by about 20% in June in contrast with Could to five.54 million tonnes, provisional gross sales knowledge confirmed.
Nevertheless, gasoline and gasoil gross sales in June are nonetheless down by about 15% and 17.1% respectively from a yr earlier. Gas consumption- a proxy for oil demand in Asia’s third largest economy- plunged to the bottom since 2007 in April because the nation got here to a standstill because of the lockdown that was put in place on March 24.
Oil minister Dharmendra Pradhan final week stated gasoline demand may normalise by end-September. State firms Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum personal about 90% of the retail gasoline shops in India. The sources who offered the provisional business knowledge requested to not be recognized citing confidentiality. Gross sales of liquefied petroleum (LPG) rose almost 17% in June from a yr in the past whereas jet declined by 67.three% throughout the identical interval.
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