New Delhi, Nov. 14 -- India's road transport fuel demand is expected to continue rising until 2034 despite growing electric vehicle (EV) adoption, as an expanding vehicle fleet and higher commercial transport use sustain oil consumption, according to BloombergNEF's (BNEF) India Electric Vehicle Outlook 2026.

The report projects road fuel demand to peak at more than 2.5 million barrels per day in eight years before gradually declining. Increasing adoption of electric two-wheelers, three-wheelers and passenger cars is expected to eventually outweigh growth in commercial vehicle fuel consumption, Bloomberg reported.

EV sales in India exceeded 2.4 million units last year. However, BNEF estimates that, apart from three-wheelers, no vehicle s...