Indian petrol demand to peak by 2035, says top refiner Indian Oil

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The Economic Times daily newspaper is available online now. Read Today's Paper Indian petrol demand to peak by 2035, says top refiner Indian OilReutersLast Updated: Oct 28, 2026, 01:51:00 PM ISTSynopsis

Indian petrol demand is projected to peak by the year 2035 as electric vehicles become more prevalent. The chairman of Indian Oil Corp highlighted that ethanol blending and more gas vehicles will also contribute. In contrast, the consumption of diesel and jet fuel is expected to grow due to industrial expansion. Additionally, demand for certain heavy fuel grades like petcoke will rise significantly.

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Loading...×Goa, India: Indian gasoline demand is set to peak by 2035 as electric vehicles gain ground, ethanol blending continues and more cars run on gas, the chairman of state-run refiner Indian Oil Corp said on Wednesday.

"Motor spirit is feeling pressure from all sides, that's one area of concern," A S Sahney said at an industry event.

In contrast, diesel and jet fuel consumption would continue to grow backed by industrial expansion and the aviation sector.

He said demand for bottom heavy grades such as fuel oil and petcoke, which account for 30% of refining yield, would also rise.

Separately, he said IOC was evaluating different technologies such as small modular reactors, adding a final decision depended on commercial viability.
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