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2016: Low oil prices lead to highest fuel sales growth in at least 16 years

2016: Low oil prices lead to highest fuel sales growth in at least 16 years

Reuters  |  NEW DELHI 

India's fuel demand in 2016 grew at its highest pace in at least 16 years as low oil prices for most of the year boosted demand for gasoline and aviation fuels. Consumption of fuels, a proxy for oil demand, surged 10.7 percent to 196.48 million tonnes in 2016, data from the Petroleum Planning and Analysis Cell (PPAC) of the Oil Ministry showed. State polls in India in five states in February and March are likely to send thousands of voters criss-crossing vast distances, boosting gasoline demand throughout the first quarter of 2017, but analysts say growth could slow over the ...

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First Published: Wed, January 11 2017. 09:00 IST
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