Going by the trend, it’s likely that petroleum products consumption growth for FY17 could be better than last year. Consumption of petroleum products in India for the June quarter has risen 7.8% from a year earlierAccording to Petroleum Planning and Analysis Cell data, petroleum products’ consumption in India for the June quarter rose 7.8% from a year earlier. True, petroleum products consumption data is a leading indicator of the performance of an economy. That could mean more car sales, which in turn boosts petroleum products’ consumption. For instance, in the June 2015 quarter, petroleum products’ consumption had increased 6.7% but for the entire fiscal year 2016, it had gone up 11% from a year earlier.

Source: Mint July 13, 2016 20:15 UTC