Global Polyurethane Network News: Recently, statistics compiled by research institutions under the Ministry of Petroleum and Natural Gas of India show that in March this year, India's fuel consumption reached 4.83 million barrels per day, a year-on-year increase of 5%. This is the highest level since the statistics began in 1998, indicating that economic activity tends to be active.
While transport fuels such as diesel and gasoline have driven the figure in recent months, bitumen used in road construction was the main driver in March, said Viktor Katona, chief crude oil analyst at international oil consultancy Kepler. This reflects the steady growth of the Indian economy and the active infrastructure construction.
On the other hand, independent oil market analyst Sugandha Sachdeva pointed out that the government's public investment has stimulated overall consumption in the market. Especially before the election, the demand for infrastructure construction will increase significantly, leading to the expansion of demand for petroleum products.
