India’s fuel consumption slumped by over 66 per cent in April as a nationwide lockdown halted economic activity and travel, which eviscerated demand. Petrol and diesel demand is down 66 per cent in April, while aviation turbine fuel (ATF) consumption has collapsed by 90 per cent as most airlines have stopped flying, industry officials said.
India’s petrol sales shrank by 17.6 per cent and diesel demand tanked nearly 26 per cent in March as the economy froze under the nationwide lockdown announced to check the spread of Covid-19. Also, aviation turbine fuel (ATF) sales fell by 31.6 per cent as flights got suspended alongside the shutting of businesses and most […]
Jet fuel prices were slashed by 12 per cent after oil firms reverted back to fortnightly revisions to pass on the benefit of falling crude oil prices, but rates of petrol and diesel remained unchanged for the seventh straight day to adjust the hike in excise duty.
State-run fuel retailers have decided to dump the monthly revision of jet fuel prices and opt for fortnightly revision, a move that will bring relief to airlines by quickly passing on the benefit of falling crude and jet fuel prices at a time when the carriers are grappling with the economic impact of coronavirus pandemic.
Jet fuel (ATF) prices were on Monday slashed by a steep 10%, the second straight reduction in rates in as many months, as international oil prices slumped on fears of the spread of coronavirus. Simultaneously, the rates of non-subsidised cooking gas (LPG) were cut by Rs 53, wiping away a third of the record Rs […]
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