Sharp jump in fuel demand in August as economic activity rises

Fuel prices have recovered sharply in August as economic activity picks up after an improvement in the Covid-19 situation in the country.

Fuel demand in India rose sharply in August due to improvement in economic activity as the Covid-19 situation improves in the country. Fuel demand in the country rose 10.9 per cent in August compared with the corresponding month last year. Fuel consumption, which is a proxy for oil demand, totalled 16 million tonnes, show data from the oil ministry’s Petroleum Planning and Analysis Cell (PPAC).