Fuel demand in India falls for the first time in 21 years

Bisnis.com, JAKARTA – The total demand for petroleum products in Indonesia India In 2020 it fell for the first time in more than two decades when the Covid-19 pandemic shut down businesses and factories and reduced consumption of one of the world’s largest fuel consumers.

Reported Bloomberg, Total demand for petroleum products, including diesel, gasoline, and kerosene, declined 10.8 percent in 2020 year over year.

According to calculations, this is the first annual decrease since 1999 Bloomberg from preliminary figures released by the Directorate of Fuel Analysis Planning, Ministry of Petroleum, India.

In addition, the consumption level is at 193.4 million tons, the lowest level in the last five years.

Asia’s second largest oil importer, fuel demand fell 70 percent after taking any of the following steps: Lockdown closest in the world in March. The decline resulted in a decline in crude oil processing and operations in petrochemical plants.

Strict restrictions destroy the economy India. India’s annual gross domestic product (GDP) is expected to show the steepest decline since 1952. Prime Minister Narendra Modi’s government has eased most virus restrictions to rescue Asia’s third largest economy from its slump.

The demand for fuel is increasing as restrictions are relaxed. Meanwhile, monthly petroleum fuel consumption was about 1.8 percent lower in December than a year earlier and was still at an 11-month high, according to government figures.

Gasoline consumption rose 9.3 percent last month compared to the previous year, the highest since May 2019, due to the increased use of private vehicles. Diesel demand was 2.8 percent below the previous year.

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