India’s fuel consumption continues to decline in August

Oil

India’s fuel consumption decreased by 300K b/d m-o-m and 700K b/d y-o-y to 3.71M b/d in August, falling for the second month in a row to the lowest level since April, according to data from the Petroleum Planning and Analysis Cell (PPAC). Consumption of diesel fell by 160K b/d (or 12%) m-o-m to 1.18M b/d, which is down by 310K b/d y-o-y, however gasoline use edged up by 30K b/d m-o-m to 660K b/d. The ongoing coronavirus pandemic continues to suppress fuel demand in India, restricting transportation and diminishing economic activity, Reuters report.