India's oil boom stalls
Gasoline consumption growth has been slowing since the middle of 2016
 "Demand for liquefied petroleum gas and kerosene used for cooking, heating and lighting as well as diesel used for transport all show signs of leveling off or actually falling in the first four months of 2017")
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Demand for liquefied petroleum gas and kerosene used for cooking, heating and lighting as well as diesel used for transport all show signs of leveling off or actually falling in the first four months of 2017
India’s gasoline consumption has flattened out in recent months after tremendous growth between 2014 and 2016.
India’s motorists consumed 581,000 barrels of gasoline per day between February and April, according to the Petroleum Planning and Analysis Cell at the Ministry of Petroleum and Natural Gas.
Gasoline consumption rose by 4 percent compared with the same period a year earlier, a sharp slowdown from the 14 percent increase between 2015 and 2016..
Gasoline consumption growth has been slowing since the middle of 2016 after surging for the previous two years.
Consumption growth for most other fuels used for cooking and transportation has also been slowing for the last nine months.
Demand for liquefied petroleum gas and kerosene used for cooking, heating and lighting as well as diesel used for transport all show signs of levelling off or actually falling in the first four months of 2017.
The slowdown may have been compounded by the demonetisation of large-denomination bank notes announced at the start of November as part of the government’s anti-corruption campaign.
Demonetisation resulted in a sharp slowdown in sales of the cheaper motorcycles favoured by first-time buyers in rural areas.
Rapid expansion in motorcycle ownership has been one of the major factors driving increases in gasoline demand (“India’s new motorcycle owners drive gasoline boom”, Reuters, September 2016).
Rising crude oil and refined fuel prices over the last year are also likely to have constrained the growth in consumption and other fuels.
India’s motorists consumed 581,000 barrels of gasoline per day between February and April, according to the Petroleum Planning and Analysis Cell at the Ministry of Petroleum and Natural Gas.
Gasoline consumption rose by 4 percent compared with the same period a year earlier, a sharp slowdown from the 14 percent increase between 2015 and 2016..
Gasoline consumption growth has been slowing since the middle of 2016 after surging for the previous two years.
Consumption growth for most other fuels used for cooking and transportation has also been slowing for the last nine months.
Demand for liquefied petroleum gas and kerosene used for cooking, heating and lighting as well as diesel used for transport all show signs of levelling off or actually falling in the first four months of 2017.
The slowdown may have been compounded by the demonetisation of large-denomination bank notes announced at the start of November as part of the government’s anti-corruption campaign.
Demonetisation resulted in a sharp slowdown in sales of the cheaper motorcycles favoured by first-time buyers in rural areas.
Rapid expansion in motorcycle ownership has been one of the major factors driving increases in gasoline demand (“India’s new motorcycle owners drive gasoline boom”, Reuters, September 2016).
Rising crude oil and refined fuel prices over the last year are also likely to have constrained the growth in consumption and other fuels.
Demand for liquefied petroleum gas and kerosene used for cooking, heating and lighting as well as diesel used for transport all show signs of leveling off or actually falling in the first four months of 2017