Crude not sustainable at $120/bbl, expect to come down over medium term

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Retailers sold 3.4 million tonnes of gasoil from June 1 to 14, up 47.8% from the same period a year earlier and 12% from the same period last month, the data showed. Sales of diesel were 1.28 million tonnes, up 54.2% year-over-year.

The government on Wednesday played down concer ..

“Oil Companies have geared up to tackle these issues by increasing the stocks at depots and terminals, extra movement of trucks to serve retail outlets and extending working hours of depots and terminals,” the federal oil ministry said.

“The companies are ensuring that sufficient supplies of petrol and diesel are available to cater to this extra demand,” the ministry said.

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