OIL PRODUCTS: India Gasoline Consumption Expected up to 950kbpd in 2025: FGE
Feb-14 15:06
India's gasoline consumption is expected to rise about 40kbpd to 950kbpd in 2025, but diesel demand is expected to hold steady, according to FGE.
- “Asian overall gasoline supply to grow by around 150,000-160,000 bpd year-on-year in 2025 and demand to grow by around 100,000 bpd in 2025 due to addition of new refineries and expansion in China, India, Indonesia and Thailand,” FGE said.
- India oil expects gasoline demand to grow about 6-7% and diesel growth of 4% in the next fiscal year and MRPL expects gasoline demand growth of 7-8% and diesel at 4%, according to Reuters.
- Market analysts expect supply growth will keep gasoline margins subdued with Asian cracks to peak at about $10-$11/bbl over Dubai crude in Q2 2025 before falling in H2 2025, Reuters said.
- India could surpass China as the main driver of global oil demand growth this year.
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