India’s Gasoline Use Jumps in March as Cars Preferred By Bloomberg – Investing.com

India’s Gasoline Use Jumps in March as Cars Preferred By Bloomberg – Investing.com

India's Gasoline Use Jumps in March as Cars Preferred

(Bloomberg) -- Gasoline demand in India rose to a four-month high in March as millions of people favored cars over public transport, with one of the world's most populous nations seeing a resurgence in virus cases.

Motor fuel demand rose to 88,380 tons per day last month, the highest level since November last year, according to official data. Gasoline sales surged 27% from March last year, when local demand collapsed due to the roll-out of strict lockdowns to stem the spread of Covid-19.

India's daily overall consumption of oil products fell in March from February, as demand for diesel, the most popular fuel, declined. While the pandemic has provided a shot in the arm for gasoline use -- more people are opting for private transport over buses and trains -- the roll-out of lockdowns as India suffers a second wave of coronavirus infections may hamper the oil demand recovery.

Government authorities are now mulling a re-imposition of restrictions as the state of Maharashtra faces a surge in infections and widespread vaccine shortages. India has prohibited exports of the drug Remdesivir, used to treat Covid-19, while the streets of Mumbai were deserted.