oil demand growth, expects its fuel consumption to bounce back during the coming year as the nation recoups the losses caused by Covid-19.Demand for gasoline, diesel and other fuels will reach a record 215.24 million tons in the 12 months through March 2022, according to estimates by the Petroleum Planning and Analysis Cell of India’s oil ministry.
That’s almost a 10% rebound from the current year, which has been hit hard by the virus.Also Read | How citizen data led India’s Covid battleAt one stage last year, India’s fuel consumption plunged by as much as 70%, led by the world’s biggest lockdown.
The measures forced a sharp reduction in crude processing and imports, and helped drive a slump in international oil prices.