India's Fuel Consumption Picks Up In June As Lockdowns Ease

India's auto fuel demand picked up in June as economic activity accelerated after the easing of pandemic-related lockdowns, preliminary sales data showed on Thursday.

State-run refiners sold 2.12 million tonnes of petrol last month, up 29.35% from May and about 5.7% from the year-earlier period.

Sales of diesel, which accounts for about two-fifths of India's overall refined fuel consumption and is directly linked to industrial activity in Asia's third-largest economy, rose 18.5% from May to 5.36 million tonnes, but were down 1.84% from June 2020.

Compared to June 2019, demand for petrol and diesel last month slipped 10.4% and 18.8%, respectively.

Fuel demand in India would recover to pre-pandemic levels by the end of this year after being hit by a deadly second wave of coronavirus, oil minister Dharmendra Pradhan said on Tuesday.

In May, local fuel consumption, a proxy for oil demand, slumped to its lowest since last August as lockdowns and travel restrictions in several states stalled mobility and muted economic activity.

State-run Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum Corp Ltd own about 90% of India's retail fuel outlets.

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