Economics
India’s Oil Demand Growth Cools Even as Motor Fuel Use Expands
- Usage of diesel grows 6.5 percent, gasoline rises 11.9 percent
- Lower bitumen and petroleum coke demand limit growth: analyst
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Photographer: Prashanth Vishwanathan/BloombergThis article is for subscribers only.
India’s oil demand growth slowed as gains in gasoline and diesel fuel were offset by a decline in bitumen and petroleum coke consumption.
The South Asian nation consumed 16.54 million tons of hydrocarbon fuels in June, 0.4 percent more than a year ago, according to the Oil Ministry’s Petroleum Planning and Analysis Cell. Diesel demand expanded 6.5 percent to 6.8 million tons. The fuel accounts for about 40 percent of total oil products sales in the country.