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Indian gasoil demand continues to decline


Indian gasoil demand continues to decline, falling by 3.5% in April from a year ago, with negative y-on-y growth for 11 of the past 12 months.

The government's policy to remove subsidies through small monthly price hikes has dampened demand, not to mention it coincides with a general downturn in the economy. On the plus side, net of taxes, domestic prices are now close to international market prices. This means that the price hikes could end soon, and stable retail prices should help diesel demand recover.


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