India’s oil product demand likely to rise by 5.7%

India’s oil product demand is expected to rise 5.7% in the current fiscal year as an expanding economy boosts demand for fuels, government data showed. Demand for oil products is likely to be 146.08 million tons in the year through March 2011 compared with actual consumption of 138.20 million tons, according to the website of the Petroleum Planning and Analysis Cell, a research agency under the Oil Ministry. The Indian economy is projected to expand by more than 8.5% this fiscal year, after rising 7.4% last fiscal year. (September 9, 2010)