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Rise in Indian fuel demand signals a speedy economic recovery

After touching the bottom rock in fuel sales in more than 12 years, an increase in the consumption of fuels signals a fast revival from the worst economic trench the country dipped due to the lockdown.

As the lockdown restrictions are eased trucks returned to roads and people started using cars for commutation to offices. A return to pre-virus demand levels is expected to be slow and long, with the nation extending some restrictions until the end of May due to rising infections.

Goldman Sachs Group Inc has predicted the country will experience its deepest recession ever in the months to come marking the lowest gross domestic production.90 percent of the fuel needs of India are supplied by Indian Oil Corp., Bharat Petroleum Corp., and Hindustan Petroleum Corp, and an increase in sales is recorded by all after the third phase of lockdown.

However, the exact figures of sales rise are still accessed by the Indian Oil companies.


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