India's Largest Refiner Predicts Gasoline Demand Growth to Peak by 2035

Deep News10-28 17:22

India's largest refining company has stated that the growth rate of the country's gasoline demand may peak by 2035, as the rising adoption of electric two-wheelers and gas-powered four-wheelers begins to curb consumption.

Arvinder Singh Sahney, Chairman of Indian Oil Corporation, told reporters at an industry event in Goa that an increase in the blending ratio of ethanol into gasoline will also reduce consumption of the fuel. He stated that gasoline is "under pressure from all sides."

Sahney said that diesel, India's most consumed refined product, as well as aviation turbine fuel, are likely to see continued demand growth due to a lack of substitutes. Consumption of other oil products such as petroleum coke and fuel oil is also expected to rise.

He also mentioned that Indian Oil Corporation is researching related technologies, including small modular reactors, as it prepares to enter the nuclear energy sector.

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