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Petrol, diesel prices hiked as elections end
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The prices of petrol and diesel have gone up once again as soon as the elections ended. State-owned oil marketing companies increased the price of petrol as well as diesel on Tuesday. This was done after the results were declared for the assembly elections in Puducherry, Assam, Kerala, West Bengal and Tamil Nadu on Sunday. This is for the first time since February 23 that the fuel prices have been increased.
The price 0f petrol has been increased by 15 paise so now it sits at Rs. 90.55 per litre whereas the price of diesel has been increased by 18 paise so it sits at Rs. 80.91 per litre. These prices are in Delhi on Tuesday at an Indian Oil Corporation Ltd’s outlets. It is being expected that the fuel prices will go up gradually from here on.
India s Covid-19 crisis has pummeled demand for transport fuels to the lowest in several months.
(Bloomberg) India’s Covid-19 crisis has pummeled demand for transport fuels to the lowest in several months, highlighting the risks for energy consumption amid an uneven global recovery from the pandemic.
April sales of gasoline used in cars and motorcycles fell to 2.14 million tons, the lowest since August, according to preliminary data from officials with direct knowledge of the matter. Sales of diesel, a bellwether for economic activity, was a tad higher last month than February, which had two fewer days. Average daily sales of the nation’s most-used fuel in April were the lowest since October.
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Huge rise in coronavirus cases hit India’s April fuel demand
Indian state refiners’ local fuel sales in April declined due to state-level restrictions aimed at stemming a rampant second wave of coronavirus infections, preliminary data shows.
The deadly second wave topped 400,000 new daily cases for the first time on Saturday.
Authorities reported 401,993 new cases in the previous 24 hours, the highest daily count globally, after 10 consecutive days over 300,000. Deaths from COVID-19 jumped by 3,523, taking the total toll in India to 211,853.
“Overall fuel demand is down by about 7% from pre-covid level of April 2019,” said A.K. Singh, head of marketing at refiner Bharat Petroleum Corp.