Fuel demand falls as rain pours down

Monsoon rains dampen India’s July fuel demand

The world’s third biggest fuel importer, India, faces a major downfall in the demand for gas oil as heavy rains poured down in the month of July. With monsoon came the inconvenience of blocked roads and swamp like construction sites. Due to such damp conditions, the consumption of oil and gasoline takes a major hit of 16% and 8% decrease in July, respectively. High inflation rate also adds up to the neglecting of buying oil or goods, which is also directly affecting the agriculture sector in its use of oil for irrigation.

Read More at Reuters

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Vishvasni Chand

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