India’s Fuel Demand Is Set To Rise By 4.7% In The Next Fiscal Year

Fuel consumption in India, the world’s third-largest oil importer, is expected to rise by 4.7% in the next fiscal year between April 2023 and March 2024, estimates by the Indian ministry of petroleum and natural gas showed on Thursday. India’s gasoline demand is forecast to increase by 7.1% over the next fiscal year, while gasoil demand is expected to climb by 4.2%, according to the ministry’s initial estimates reported by Reuters. Demand for all products—except for naphtha—is projected to increase over the 12 months…