Energy-petroleum consumption: Slow and unsteady - Kotak

Petroleum consumption grew modestly by 0.4% yoy in June despite 6.5-12% growth in diesel and gasoline from a lower base, reflecting decline in off-take of industrial fuels, presumably impacted before the implementation of GST. 1QFY18 growth at 3% was better than 3% decline post-demonetization in 4QFY17; however, it still remains subdued as compared to 8% growth during pre-demonetization phase in 9MFY17, driven by moderation in demand across fuels.

Source : Equity Bulls

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