India pegs next fiscal’s refined fuel demand growth at 3.8%

India expects its refined products demand growth to rebound to 3.8% in the financial year beginning April, tracking improved economic growth, according to government estimates that were made in January before the coronavirus broke out.

India’s economy expanded at its slowest pace in more than six years in the last three months of 2019, and analysts predict further deceleration as the global coronavirus outbreak stifles growth in Asia’s third-largest economy.