finance
India Lowers 2026 Fuel Demand Growth Forecast by 40 Percent
Kpler revised India's refined-products demand growth to 77,000 barrels per day for the current year. The reduction follows higher crude import costs, a weaker rupee, and government conservation steps. State retailers have raised pump prices by more than 7.5 rupees per litre.
May 25, 7:00 PM·1m read1 source
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Kpler lowered its forecast for India's refined petroleum demand growth to 77,000 barrels per day in 2026, down nearly 40 percent from its prior estimate of 128,000 barrels per day. The revision reflects higher crude import costs, a weaker rupee, and government-led austerity and conservation measures that have slowed transportation and aviation fuel use.
5 rupees per litre for both petrol and diesel.
New Delhi has raised fuel prices four times in recent weeks and introduced measures aimed at limiting consumption. The government is also accelerating efforts to reduce import dependence by diversifying crude suppliers, opening new offshore exploration zones, and targeting 100 billion dollars in domestic oil and gas investment by 2030.
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