India's Gasoline Demand Could Peak by 2035 as EVs Gain Ground

India’s gasoline demand is likely to peak by 2035 amid rising ethanol blending and increased use of vehicles running on batteries and natural gas, according to A S Sahney, the chairman of the largest state-owned refiner, Indian Oil Corporation IOC. Talking at an industry event in Goa on Wednesday, Sahney said that “Motor spirit is feeling pressure from all sides" as demand for other refined products rises.

Diesel and jet fuel demand are set for continued growth amid rising industrial activity and air travel, while demand for fuel oil and petcoke, which represent about 30% of the refining yield, is also set to increase, the executive noted.