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January POL consumption is down: Both structural and cyclical factors at work
Feb 18: January 2020 POL consumption is down.
8MS consumption is lower than earlier few months, while the fall in HSD demand is steeper.
8There are indeed deep seated changes going on in the Indian energy market. Some cyclical while others are structural
8MS consumption could be down because of the economic downturn, coupled with low sales of new cars as the market awaits the advent of electric cars. In India, a vehicle buyer has a 10 year perspective, and currently the outlook is fluid. Already, the lifecyle cost of electric  two wheelers is cheaper than their conventional counterparts.
8Lower HSD consumption could be a result of higher efficiencies brought about by GST, wherein trucks can traverse long distances in quicker time. At the same time, the downturn has hit truck movement too
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