Suryaa Business Desk: India's petrol (gasoline) demand will grow rapidly over the next decade and reach a peak by 2035, the country's largest... The Indian Oil Corporation (IOC), the country's largest oil refiner, has made it clear that the demand for petrol (gasoline) in India will increase rapidly over the next decade and reach its peak by 2035. Although fuel consumption will increase in the near future due to the rapidly growing number of vehicles and the expansion of economic activity, the demand will gradually stabilize or start to decline after 2035, company representatives predict. Company executives said the steady rise in electric vehicle (EV) usage in the country and introduction of alternative fuels like seed ethanol blending, CNG and green hydrogen will impact petrol demand.
Experts analyze that despite the peak demand recorded by 2035, the share of conventional oil in the fuel supply required for the passenger transport sector will gradually decrease and the clean energy sector will expand. But IOC sources said that while petrol demand has reached peak levels, consumption of diesel and petrochemical products is likely to continue for much longer. Demand for diesel is expected to remain stable as it is the main fuel for India's industrial growth, infrastructure development and freight transport sector. In response to these changes, refineries are gearing up to shift oil refineries to petrochemicals and alternative fuels.
Clean energy targets and environmental protection policies set by the Indian government are reshaping the future of the domestic oil market. Peak gasoline demand by 2035 will be a key milestone in the domestic energy transition process. These estimates are proof of India's rapid shift from petroleum-based consumption to green energy.
