Local fuel sales by Indian state refiners in April declined amid state-level restrictions aimed at stemming a second unrestrained wave of coronavirus infections, preliminary data shows.
The second deadly wave topped 4,000,000 new daily cases for the first time on Saturday. Authorities reported 4,01,993 new cases in the previous 24 hours, the highest daily number in the world, after 10 consecutive days of more than 3,000,000. Deaths from COVID-19 jumped 3,523, bringing the total balance at 2.11853.
“Overall fuel demand is down about 7% from the pre-COVID level of April 2019,” said AK Singh, marketing manager at Bharat Petroleum Corp. “We were close to the pre-COIVD level in March but new restrictions and COVID wave-2 temporarily reduced demand equivalent to about 10% of March demand for personal mobility and movement of industrial goods,” said M Singh He said local fuel consumption would “ start to increase ” in June, when the second wave is expected to weaken.
Analysts expect a steeper drop in May due to more impending restrictions.