Lockdown impact: Fuel demand in India plunged to historic lows in April

In its latest report, the International Energy Agency has said India's annual fuel consumption will decline 5.6 per cent in 2020

India's fuel demand dropped 45.8 per cent in April from a year earlier as a nationwide lockdown and travel curbs to prevent the spread of novel coronavirus eroded economic activity. Consumption of fuel, a proxy for oil demand, totalled 9.93 million tonnes — the lowest since 2007 — government data showed on Saturday.

State fuel retailers in India sold 50 per cent less refined fuel in the first two weeks of April than the same time a year earlier as the country came to a standstill due to the lockdown that was put in place on March 24.

State retailers' gasoline