Economic growth, car sales to rev Indian oil demand

Newswire

By Himangshu Watts and Surojit Gupta NEW DELHI, March 19 (Reuters) - India's soaring demand for petrol and diesel is set to accelerate as rising incomes and low interest rates spark a boom in car sales in the rapidly expanding economy. Stronger growth augurs well for India's 18 refineries, which turned to the export market for most of the past three years to utilise spare capacity in the face of stagnant domestic demand. "Demand for petrol and diesel will definitely increase faster ...

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