Here Is How Coronavirus Has Impacted Petrol, Diesel Sales
State fuel retailers have sold about 17 per cent less petrol and about 26 per cent less diesel in March compared to a year ago as fuel demand in Asia's third biggest economy declined due to steps taken to curb spread of the coronavirus, industry sources said.
State companies - Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum - own about 90 per cent of the country's retail fuel outlets.
Local petrol sales in March were about 1.94 million tonnes, while diesel sales reduced to 4.98 million tonnes, sources said.
Prime Minister Narendra Modi imposed a 21-day lockdown that will end in mid-April in a desperate bid to stave off an epidemic among the nation's 1.3 billion people.
Due to restrictions on movement and travel advisories, aviation turbine sales have dropped by about 33 per cent to 4,50,000 tonnes during the month, they said.
The country's consumption of liquefied petroleum gas (LPG)Â or cooking gas rose 1.7 per cent in March from a year earlier to about 2.3 million tonnes, they said.
Before initiating a nation-wide lockdown, India had taken steps including closure of schools, universities, shopping malls and other public gatherings and restricted air travel to control the spread of the virus.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
-
Medicine Pricing: Where Must Profit Stop?
India must confront excessive margins, hidden incentives and regulatory gaps that threaten the integrity of medicine.
-
Why Amazon And Flipkart Are Struggling To Beat Meesho In India's Smaller Cities
With 274 million users and lowest-cost logistics, Meesho is defending its value commerce crown against giants like Amazon and Flipkart.