Fuel demand has come down since the 21-day lockdown was announced in the country. In this situation, public sector oil companies are fearing loss. Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited. (HPCL) has stated that their diesel and petrol sales have fallen by more than 55 per cent during the lockdown.
During a conversation with news agency PTI, HPCL Chairman Mukesh Kumar Surana said that refinery production has reduced by about 70 per cent. At the same time, according to BPCL official R Ramachandran, the refinery is operating at less than 70 per cent of the capacity. He said, “Our diesel and petrol sales have fallen by more than 60 per cent and there is almost no demand for aviation fuel as only a few cargo aircraft are flying.
Total retail sales declined 17 per cent in March
Explain that due to lockdown, air flights and trains are closed except in certain circumstances. At the same time, almost all types of movement of vehicles have also stopped. In this case, the demand for fuel has decreased.
According to IOC data, total retail sales declined by 17 per cent in March. During this period, the demand for diesel fell by 26 per cent and the demand for petrol by 17 per cent and the demand for aviation fuel decreased by 33 per cent. However, there was a spurt in demand for LPG.