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Indian Products Demand Growth to Slow in 24/25


Indian oil products demand is expected to grow by 3% in the 2024/25 fiscal year starting 1 April, the slowest pace in four years, amid slowing economic activity according to data from the oil ministry’s Petroleum Planning and Analysis Cell.

  • India’s oil products demand is forecast to grow to 239mn tons in the upcoming fiscal year.
  • Diesel consumption is estimated to rise by 2% on the year to 92mn tons. Gasoline demand is seen at 39mn tons in the new fiscal year, up from 37mn tons this year.
  • Jet fuel demand is expected to see the sharpest increase percentage wise by 13% to 9mn tons next year.

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