State-run oil refiners own about 90 per cent of the country s retail fuel outlets
Indian state refiners daily petrol and diesel sales declined by about a fifth in May from a month earlier as lockdowns to curb the second deadly wave of COVID-19 hit industrial activities and consumption, preliminary data showed on Tuesday. Daily petrol sales in May fell by about 19 per cent from April while diesel consumption, which is linked to industrial activity and accounts for over two-fifths of the country s fuel demand, fell by 19.9 per cent, data compiled by state refiners showed.
The country s factory activity growth slowed significantly in May as a rise in coronavirus cases whacked new orders and output, the Nikkei Manufacturing Purchasing Managers Index compiled by IHS Markit showed on Tuesday.
India s fuel demand plunges in May on COVID-19 lockdowns hydrocarbonprocessing.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hydrocarbonprocessing.com Daily Mail and Mail on Sunday newspapers.
The Nikkei Manufacturing Purchasing Managers' Index, compiled by IHS Markit, fell to 50.8 in May from 55.5 in April, its lowest since July 2020. That was only just above the 50-mark separating growth from contraction.
April factory orders, production rise at slowest rates in 8 months, prices surge fastest in 7 years
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April factory orders, production rise at slowest rates in 8 months, prices surge fastest in 7 yearsPTI
Last Updated: May 03, 2021, 11:35 AM IST
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Synopsis
The survey, however, noted that while output and sales increased at the slowest rates since last August due to an intensification of the COVID-19 crisis, there was a faster upturn in international orders. New export orders increased for the eighth consecutive month in April and at the fastest rate since October 2020.
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Output also hit an eight-month low in April, though the pace of expansion remained solid.
Explained: How Covid restrictions are hurting economy during 2nd wave indiatoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatoday.in Daily Mail and Mail on Sunday newspapers.