Heat wave likely to limit India's near-term demand growth for transport fuels

The heat wave sweeping India is set to take a toll on near-term demand for transport fuels as citizens look to cut travel and reduce outdoor activity, but higher usage of generators for power generation as well as agriculture during the monsoon season could limit the fall in gasoline and diesel consumption, industry sources and analysts said May 28. While the heat wave has lifted India’s powerThe heat wave sweeping India is set to take a toll on near-term demand for transport fuels as citizens look to cut travel and reduce outdoor activity, but higher usage of generators for power generation as well as agriculture during the monsoon season could limit the fall in gasoline and diesel consumption, industry sources and analysts said May 28. While the heat wave has lifted India’s powerRead More