India's Fuel Demand Sputters Amid Price Hikes and Economic Headwinds The latest forecast from Kpler's lead analyst, Elif Binici, paints a dismal picture for India's fuel demand growth in the second half of 2026.
The report revises down the country's refined products demand growth forecast by nearly 40%, to around 78,000 barrels per day (kbd), from an earlier estimate of 128 kbd.
This sharp slowdown is not unexpected, given the perfect storm of higher fuel prices, government led conservation measures, and a weakening rupee.