Oil refiner IOCL sees growth in Indian fuel demand above 4% in 2019


Oil refiner IOCL sees growth in Indian fuel demand above 4% in 2019

Growth in India’s fuel demand is set to remain at 4-4.5 percent this year, driven by consumption of gasoline and jet fuel in the transportation sector, the head of the country’s largest state-owned refiner said on Tuesday.

Gasoline and jet fuel demand are expected to rise by 7-8 percent this year, while diesel consumption could increase by 3 percent, Indian Oil Corp Chairman Sanjiv Singh told Reuters. The country’s plans to add smaller airports to improve domestic transport systems will drive appetite for jet fuel, he said.

The nation is preparing to raise its fuel quality to so-called Euro 6 standards from Euro 4 from April 2020 to fight pollution. Several refineries in India are scheduled to shut throughout 2019 to prepare for the upgrade. Read More

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