Fuel de­mand to re­main strong at 5%

Financial Chronicle - - PLAN, POLICY -

The strong de­mand for oil prod­ucts will con­tinue and may stay above 5 per cent in the medium term, driven by de­mand for three key items – petrol, diesel and cook­ing gas, said a re­port. The pos­i­tive fore­cast comes even though de­mand uptick has al­most halved to 2.6 per cent in the first four months of the cur­rent fi­nan­cial year from 5.6 per cent a year ago, said a re­port by Fitch Rat­ings. Petrol and LPG de­mand rose more than 10 per cent YOY in April-July, although the over­all pe­tro­leum prod­uct con­sump­tion growth soft­ened to 2.6 per cent from 5.6 per cent in the year to March 2017.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.