India extends ban on foreign travel

India has barred international travel until the end of this year amid a rebound in Covid-19 cases.

The ban, which was imposed in late March as part of the government's initial coronavirus lockdown, will now run until at least 31 December, further hitting jet fuel demand. Indian jet fuel sales fell by 54pc from a year earlier to 81,000 b/d in the first two weeks of November, according to initial data from state-run refiners. Sales in October were down by almost half to 90,000 b/d in from 177,000 b/d in the same month last year, oil ministry data show.

India has the world's second-highest Covid-19 case count at over 9.3mn, behind only the US. Cases have rebounded to almost 45,000 a day after falling to a four-month low under 30,000 earlier this month, despite the government cutting testing by over 200,000 every day. Many tests are unreliable anyway, experts say.

Indian refiners increased domestic jet fuel prices by 1.7pc to 42,931 rupees ($92.70/by) in Delhi for the second half of November, according to state-run refiner IOC, adding to airlines' costs. Jet fuel accounts for around 40pc of costs at Indian carriers, twice as much as at foreign airlines because of higher taxes.