Mumbai: India’s oil demand growth slowed as gains in gasoline and diesel fuel were offset by a decline in bitumen and petroleum coke consumption. The fall in consumption of bitumen and petroleum coke limited the country’s oil demand growth, he added. Rising car and scooter use spurred by rapid economic expansion and higher income levels has made India a bright spot for global oil demand. Gasoline demand rose 12% to 2.1 million tons while the consumption of LPG increased 16% to 1.9 million tons. The country’s oil demand in May rose 5.4% to 17.79 million tons.

Source: Mint July 12, 2017 08:48 UTC