Indian Oil says rise in fuel sales in 2020 shows signs of economic recovery

  • Indian Oil has said that during 2020, sales of motor spirit have increased by 108% and diesel by 96% over the previous year.
Indian Oil said that demand for petroleum products such as petrol, diesel, fuel oil and bitumen reduced substantially following the outbreak of the novel coronavirus in the country. (MINT_PRINT)
Indian Oil said that demand for petroleum products such as petrol, diesel, fuel oil and bitumen reduced substantially following the outbreak of the novel coronavirus in the country.

Despite disruptions in commercial activities due to the Covid-19 crisis, sales of motor spirit and diesel have increased during 2020, which indicates a revival of the economy, an official of Indian Oil Corporation (IOC) said on Friday.

During 2020, sales of motor spirit have increased by 108 per cent and diesel by 96 per cent over the previous year, IOC director (marketing) Gurmeet Singh said.

"This shows the healthy signs of an economic revival," he said at an event in Bhubaneswar in the presence of petroleum and natural gas minister Dharmendra Pradhan.

Also check these Vehicles

Find more Cars
Indian Challenger (HT Auto photo)
UPCOMING
Engine Icon1769.0 cc Mileage Icon20.0 kmpl
₹ 39.99 Lakhs
View Details
Indian Vintage (HT Auto photo)
UPCOMING
Engine Icon1811.0 cc Mileage Icon14.0 kmpl
₹ 21.79 - 25.32 Lakhs
View Details
Indian Springfield (HT Auto photo)
UPCOMING
Engine Icon1811.0 cc Mileage Icon14.0 kmpl
₹ 30.87 - 33.50 Lakhs
View Details
Indian Chief (HT Auto photo)
UPCOMING
Engine Icon1811.0 cc Mileage Icon14.0 kmpl
₹ 21.30 Lakhs
View Details
Indian Chieftain (HT Auto photo)
UPCOMING
Engine Icon1811.0 cc Mileage Icon20.0 kmpl
₹ 32.01 Lakhs
View Details
Indian Scout (HT Auto photo)
UPCOMING
Engine Icon1133.0 cc Mileage Icon25.0 kmpl
₹ 13.60 Lakhs
View Details

IOC chairman S M Vaidya said domestic LPG demand increased by 10 per cent during the lockdown months in the country.

Also Read : Plastic waste to fuel for cars? Thane civic body seeks nod for trial

He said 2020 was a year of digitalisation at the state-run oil marketing company, which had helped it achieve seamless business continuity.

Petroleum and natural gas minister flagged off the dispatch of high-octane premium petrol from the country's oldest refinery at Digboi in Assam to seven cities, including Kolkata.

He also introduced a missed call facility for LPG refill bookings and registering new connections for households.

Also Read : India's top oil refiner back at full capacity for first time since Covid-19

Currently, the option of registering new connections through the missed call facility is available only in Bhubaneshwar and will soon be rolled out in other parts of the country, IOC official said.

Prasad said the number of LPG connections in the country has reached 30 crore, out of which, 17 crore had been achieved in the last six years.

First Published Date: 03 Jan 2021, 09:23 AM IST
NEXT ARTICLE BEGINS

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city

Want to get the best price for your existing car?

Powered by: Spinny Logo
By clicking "View Offers" you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city
Couldn't verify the OTP.
It's either expired or it's incorrect.