Petrol sales : The coronavirus is travelling the world and causing severe damage to life and property. The health department of every country where this pandemic has infected thousands and killed hundreds is in turmoil. Each country’s expenditure and policy is severely limited to it’s scarce resources.The country is in a turmoil. Every minute of every single day, each citizen is made a part of an ongoing debate either actively or passively. Concerns such as economic recession, political instability and widespread Covid-19 are inseparable from the common.
Petrol sales in April plunged by 61 per cent and diesel sales by 57 per cent in comparison to the sales recorded a year earlier. However, the declines in sales eased gradually in the month ending when the government permitted limited and regulated transportation and industrial activity in various green and organge zones.
The state retailers’ petrol and diesel sales in first half of April declined by 61 per cent and 64 per cent, respectively. This was
due to the nation-wide lockdown extended by the Indian government to contain the spread of the coronavirus. This brought the economic activity to a halt.
Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum are the major players in the Indian oil market. They own about 90 per cent of the retail fuel outlets in the country.India’s total refined fuel demand includes consumption of fuel oil Petrol sales, bitumen and liquefied petroleum gas (LPG).
Overall fuel sales during the month faced a steep reduction of 50 per cent from a year ago. According to provisional industry data provided by two sources. Jet fuel sales in April also declined by about 92 per cent, amidst the crisis.