Analysts cut India's gasoline growth forecasts as fuel demand slows
Fuel demand in India is losing steam after state-run companies hiked petrol and diesel prices four times since mid-May, thanks to global oil costs rising over the Iran conflict.
Even with these hikes, Indian Oil, Bharat Petroleum, and Hindustan Petroleum are still losing about ₹5.5 billion ($57 million) a day because they're selling below market rates.
Analysts have now cut their growth forecast for gasoline this financial year (FY2026-27) to just 3% to 4% (down from 5% to 6%), while diesel use is expected to flatline or even dip as industry and transport slow down.
Truckers hit as freight rates fall
Higher fuel prices are hitting truckers especially hard: freight rates on most long routes have dropped by up to 15%, and many drivers are stuck waiting days for return loads due to less factory output.
That means less income for truck operators.