The strict restrictions ravaged the Indian economy, which is set for its biggest contraction in annual gross domestic product in records going back to 1952. Prime Minister Narendra Modi’s government has relaxed most of the virus curbs to pull Asia’s third-biggest economy out of the slump.
Demand is picking up as restrictions are eased. While monthly consumption of petroleum fuels in December was about 1.8% lower than a year earlier, it was still at an 11-month high, according to the government data.
fuel consumption last month rose 9.3% year-on-year, the highest since May 2019, on increased use of personal vehicles. Diesel demand was 2.8% lower than a year earlier.
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