After the lockdown due to Corona, the demand for fuel has been reduced by about 20 percent in March. Even in the month of April, its demand may fall by 40 percent. The same, since the announcement of the nationwide lockdown since March 25, people have been inside homes for three weeks, shops are closed, railways, airlines, trucks and private vehicles are not on the road, due to which the demand has come down.
Market recovers from Corona hit, business is fierce today
According to India ratings on the drop in demand, the total demand for fuel has decreased by about 20 percent, while the capacity utilization level has come down to 50 percent in March.
Crisis on jobs deepens in India, 30 percent people will be unemployed due to lock down
Further, the report states that capacity utilization is at a higher level for OMCs, whose sales to production ratio is significantly higher, as they have reduced external purchases while ensuring their refineries are in full use. The same, if the lockdown is removed from the country on April 14, then the demand for fuel will be reduced by about 40 percent this month. Because people would be reluctant to go out for the moment, they would not even want to travel by air. Apart from this, industrial and commercial activities will start at a slow pace.
