Demand for total petroleum products — including diesel, gasoline and jet fuel — slid 10.8% from a year earlier, the first annual contraction in data going back to 1999.
The drop in sales is a reminder that the recovery path for India’s economy, which technically entered a recession last week, will likely be a bumpy one as Covid rages unabated.
Dussehra and Diwali festivals typically increase demand for consumer goods, with more diesel-powered trucks hitting the road to deliver everything from clothes to refrigerators.
While diesel consumption is lagging, petrol sales in September rose for the first time since February on a year-on-year basis as more people opted for own vehicles to commute.
The slump in diesel demand is forcing refineries to operate below capacity, but gasoline sales are back at pre-virus levels with people resorting to personal vehicles.
Overall oil-product consumption including transport fuels in the financial year through March 2021 will be around 90% of last year — the lowest level since 2016.
Bangladesh Foreign Minister AK Abdul Momen said it would help bring both sides even closer and further take the 'rock solid' bilateral relations to new heights.
One has to be incredibly credulous to buy BJP spin masters’ argument that the government got rid of Vice President Jagdeep Dhankhar for harmonious relationship with the judiciary.
Modi government had also made numerous efforts to establish peace with Pakistan but has now adopted a different path, militarily, to establish peace, adds defence minister.
As Narendra Modi becomes India’s second-longest consecutively serving Prime Minister, we look at how he compares with Indira Gandhi across four key dimensions.
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