ES Sahni, the CEO of the state-owned Indian Oil, announced at an industry event in Goa that gasoline demand in India will reach its highest level by 2035. This prediction is due to the increased use of electric vehicles, the continued blending of ethanol with fuel, and the rising number of gas vehicles.
Challenges in the Fuel Market
Sahni also pointed out the existing problems in the fuel market, stating: "There is a fuel problem in all areas, and this is one of the concerning issues." He added that despite technological advancements and changes in fuel types, challenges in fuel supply still exist.
Growth in Demand for Other Fuels
However, Sahni predicted that the consumption of diesel and jet fuel will continue to rise due to industrial development and growth in the aviation sector. He also mentioned the increasing demand for various heavy refinery products such as fuel oil and petroleum coke, which make up 30 percent of refinery production.
These changes in demand for different fuels indicate a transformation in India's oil and gas industry, which could have widespread implications for the global oil market. Especially considering the sustainable growth of India's economy and the rising population, the need for various fuels in this country has become a key issue. On the other hand, these changes may also impact India's energy and environmental policies.
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