Commodities
India's Oil and Gas Sector Under Pressure from Rising Crude Costs
The Indian oil and gas sector is facing pressure due to rising crude costs. This comes at a time when the country's automobile industry has recorded its best-ever August retail sales, with alternative fuels such as compressed natural gas, hybrid, and electric vehicles combined overtaking petrol in the passenger vehicle segment for the first time.
The shift coincided with oil price rises linked to the war in the Middle East and a cooled public response to higher ethanol content in petrol. Dealers attributed stronger demand to lower running costs and concerns over the E20 petrol transition.