India’s new motorcycle owners drive gasoline boom: Kemp

16 Sep 2016   India

India’s gasoline consumption is growing rapidly as millions of additional households buy motor cars and especially motorcycles as a status symbol amid growing prosperity. Gasoline consumption averaged 550,000 barrels per day between June and August, an increase of nearly 15 percent from 480,000 bpd a year earlier. Gasoline consumption hit a new record of 600,000 bpd in August, according to the Ministry of Petroleum and Natural Gas. Consumption remains low compared with the advanced economies or China, the other emerging-market giant, but no other country is exhibiting such fast and sustained growth ( tmsnrt.rs/2cKZ16B ). The number of registered vehicles on India’s roads has been doubling every seven years and hit 182 million in 2013, according to the Ministry of Road Transport and Highways ( tmsnrt.rs/2ctnRFe ) (“Road […]

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