India’s fuel demand falls : As the crisis has hit and the lives of people are in danger. Mostly all of them are abiding by the norms of social distancing and the restrictions imposed thus there has been less of travel around the cities which led to fall in India’s fuel consumption to about 46% which is declared lowest since 2007.
The state fuel retailers observed a 50% reduction in the in the first two weeks of April in comparison with last year. As the government extended the lockdown till May 17 with slight relaxations in low-risk areas. But travel in any mode of transport and inter state movements of people are still banned.
Utilisation of fuel is used widely for transportation as well as irrigation needs in country which has fallen about 55.6% year over year. Sales of petrol has dropped by 60.6% which clearly states the fear among the people. On the other hand, Liquefied Petroleum Gas (LPG) sales rose about 12.1% and state retailers has increased the sales up to 21% in the beginning of April.
Government is also offering free cooking gas cylinders to the poor for 3 months to help them analyse the impact of the lockdown. Along with relief packages and various services provided by the government is a necessity in the hard times.
In conclusion, the consumption demand of fuel will rise as and when the restrictions are at ease. All the industrial activities and transport restricted in areas to avoid spread of corona-virus are at halt for now. With this thought, the demands are ought to recover for the remaining months of this year.