Petrol, Diesel Prices Unchanged For 26 Days; Not In 10 Yrs Demand Has Faded Like This

The coronavirus led lockdown has heavily impacted the demand for petrol and diesel as travel restrictions are in place and people are hardly moving out. Only states where VAT has been increased including Maharashtra, West Bengal and Karnataka prices have moved up on April 1.

As per the latest petroleum consumption report, the fate of fuel demand in the country has never been this bad in last 10 years. With most vehicles of the road, fuel consumption has been hit severely in March seeing a decline by 18% to 16 million tones.

In most major metros, prices of petrol and diesel remain the same as that in the previous session.

Petrol, Diesel Prices Unchanged For 26 Days; Not In 10 Yrs Demand Has Faded Like This

The suspension of railways, airlines and construction activity is further adding to the woes.

There has been news that some of hospital etc. have been increasingly demanding doorstep delivery of diesel via Humsafar service.

So, barring LPG, all fuels have recorded massive demand fall and so the producers are looking at cutting down on the production so there is no further loss due to accumulating inventory.

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