India fuel demand seen rising through 2034 despite EV growth
In short
India's fuel demand from road transport is expected to keep rising for the next eight years, according to BloombergNEF's India Electric Vehicle Outlook 2026. It is projected to peak at more than 2.5 million barrels a day before gradually declining.
What the reporting says
India's fuel demand from road transport is set to peak at more than 2.5 million barrels a day in eight years before gradually declining, according to BloombergNEF's India Electric Vehicle Outlook 2026. The outlook says demand will keep rising through 2034 despite growing EV adoption. The report points to continued fuel use in transport even as electric vehicles gain ground.
Why it matters
BloombergNEF's India Electric Vehicle Outlook 2026 says India's road-transport fuel demand will peak at more than 2.5 million barrels a day in eight years and then gradually fall. The projection implies transport fuel demand will stay firm through 2034 even as EV adoption grows. The outlook is relevant for fuel suppliers, refiners and EV-linked businesses watching how quickly road-fuel consumption changes.