India's Fuel Demand Rises to Record on Gasoline, Diesel Growth
- Gasoline consumption surges 14.5% in year ended March
- Price differential between gasoline and diesel has narrowed
Tortoise Capital's Thummel: We Think Oil Has Bottomed
This article is for subscribers only.
India’s fuel demand grew 11 percent in the year ended March 31, the fastest pace in records going back to fiscal 2001.
Fuel use rose to 183.5 million metric tons from 165.5 million tons in the previous period, according to preliminary data on the website of the Oil Ministry’s Petroleum Planning & Analysis Cell. Diesel consumption rose 7.5 percent to 74.6 million tons, while gasoline usage rose 14.5 percent to 21.8 million tons.