State retailers’ gasoline and gasoil gross sales in March rose by 27.4 per cent and 28.6 per cent, respectively, from the low base of final 12 months when a nationwide lockdown to stem the unfold of the coronavirus hit consumption, preliminary trade knowledge confirmed. State corporations – Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum – personal about 90% of India’s retail gasoline shops.
The three corporations offered 2.47 million tonnes of gasoline final month, the information compiled by three state retailers confirmed. Diesel consumption, an indicator of financial progress, which accounts for about 40 per cent of total refined gasoline gross sales in India, totalled 6.41 million tonnes in March, the information confirmed. India imposed a strict nationwide lockdown from March 24 final 12 months, leading to a deep minimize in gasoline consumption.
“Sales of petrol and diesel are back to near pre-COVID levels as industry activity and travel has picked up,” an official at one of many state refiners stated on situation of anonymity. State retailers’ gross sales of liquefied petroleum gasoline, or cooking gasoline, final month declined 1.2 per cent to 2.26 million tonnes because the federal authorities diminished a subsidy for the gasoline, the information confirmed. Jet gasoline gross sales declined by 4.4% to 437,000 tonnes
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