Due to restrictions on movement and travel advisories, India's consumption of diesel, petrol and aviation turbine declined massively during March
Petrol, diesel consumption to drop, rise in stockpile likely
Sales of gasoline, or petrol, were 9.2 percent higher from a year earlier at 2.53 million tonnes.
Transparent pricing regime should be the next step
Though India is moving towards reducing fuel consumption, filling stations are set to become more ubiquitous
India will surpass China as the fastest-growing petroleum product market in Asia with fuel consumption rising 6 per cent in 2018, Moody's Investors Service said today citing EIA data. As economic activity in China dials back, Moody's said it expects its refined product demand growth will moderate to 2.5 -3 per cent in 2017-18, compared with compounded annual growth rate of 5 per cent in 2012-16. "Nonetheless, in absolute terms, the EIA says China will account for 48% of Asias R&M sectors demand growth in 2018. In comparison, India will surpass China as the fastest-growing product market in Asia with petroleum consumption growing 6 per cent in 2018," it said. Moody's said the outlook for the Asian oil refining and marketing sector is stable, with the EBITDA of rated companies growing a modest 5 per cent through 2018. "Driven by China's and India's appetite for petroleum products and continued capacity rationalisation, we believe refining margins will remain firm, ...
World's 3rd largest oil consumer saw demand for fuel and petroleum products rise to 194.2 mt in FY17