Indian Oil sees petrol demand peaking by 2035
In short
Indian petrol demand is expected to peak by 2035, Indian Oil Corp’s chairman said in the reported summary. The same report says more electric vehicles, ethanol blending and gas vehicles are part of the reason.
Diesel and jet fuel demand is still expected to grow because of industrial expansion. The report does not give exact fuel volumes or say how fast the change will happen.
What the reporting says
Indian petrol demand is projected to peak by 2035, according to a publisher summary citing Indian Oil Corp’s chairman. The reported reasons are rising electric-vehicle use, ethanol blending and more gas vehicles, while diesel and jet fuel demand is expected to keep growing with industrial expansion. The immediate consequence is a mixed demand outlook for fuels, but the report does not provide exact volumes or timing beyond 2035.
Why it matters
Indian Oil Corp’s chairman is reported to expect Indian petrol demand to peak by 2035 as electric vehicles become more common. The summary also says ethanol blending and more gas vehicles will weigh on petrol use, while diesel and jet fuel should grow with industrial expansion. Demand for heavy fuel grades such as petcoke is also expected to rise. Exact demand figures and the pace of change are not stated.