Organization of the Petroleum Exporting Countries or OPEC noted that in February, India’s oil demand inched up by 28 thousand barrels (tb) per day (d), y-o-y, down from growth of 132 tb/d, y-o-y, seen the previous month. The largest monthly increases in oil product demand were recorded in transportation fuels, including gasoline and diesel. gasoline demand posted the largest increase of 67 tb/d, y-o-y, up from a 59 tb/d, y-o-y, increase seen the previous month. Growth in gasoline demand in February was supported by an increase in vehicle sales amid a rise in disposable income and personal mobility. Diesel demand expanded by 45 tb/d, y-o-y, below growth of 79 tb/d, y-o-y, seen the previous month. Robust growth in transport fuels and growth in LPG and naphtha demand are expected to support overall oil demand expansion in 2Q25 by 235 tb/d, y-o-y. In 2025, oil product demand in India is expected to grow by a healthy 209 tb/d, y-o-y, to average 5.8 million barrels per day.
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