The 2025 annual OPEC oil price stood at 78.1 U.S. dollars per barrel, as of February. This would be lower than the 2024 average, which amounted to 79.86 U.S. dollars. The abbreviation OPEC stands for Organization of the Petroleum Exporting Countries and includes Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iraq, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, Venezuela, and the United Arab Emirates. The aim of the OPEC is to coordinate the oil policies of its member states. It was founded in 1960 in Baghdad, Iraq. The OPEC Reference Basket The OPEC crude oil price is defined by the price of the so-called OPEC (Reference) basket. This basket is an average of prices of the various petroleum blends that are produced by the OPEC members. Some of these oil blends are, for example: Saharan Blend from Algeria, Basra Light from Iraq, Arab Light from Saudi Arabia, BCF 17 from Venezuela, et cetera. By increasing and decreasing its oil production, OPEC tries to keep the price between a given maxima and minima. Benchmark crude oil The OPEC basket is one of the most important benchmarks for crude oil prices worldwide. Other significant benchmarks are UK Brent, West Texas Intermediate (WTI), and Dubai Crude (Fateh). Because there are many types and grades of oil, such benchmarks are indispensable for referencing them on the global oil market. The 2024 fall in prices was the result of weakened demand outlooks, primarily from China.

Crude Oil decreased 2.12 USD/BBL or 2.95% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on March of 2025.

As of February 2025, the average annual price of Brent crude oil stood at 77.36 U.S. dollars per barrel. This is some three U.S. dollars lower than the 2024 average. Brent is the world's leading price benchmark for Atlantic basin crude oils. Crude oil is one of the most closely observed commodity prices as it influences costs across all stages of the production process and consequently alters the price of consumer goods as well. What determines crude oil benchmarks? In the past decade, crude oil prices have been especially volatile. Their inherent inelasticity regarding short-term changes in demand and supply means that oil prices are erratic by nature. However, since the 2009 financial crisis, many commercial developments have greatly contributed to price volatility; such as economic growth by BRIC countries like China and India, and the advent of hydraulic fracturing and horizontal drilling in the U.S. The outbreak of the coronavirus pandemic and the Russia-Ukraine war are examples of geopolitical events dictating prices. Light crude oils - Brent and WTI Brent Crude is considered a classification of sweet light crude oil and acts as a benchmark price for oil around the world. It is considered a sweet light crude oil due to its low sulfur content and a low density and may be easily refined into gasoline. This oil originates in the North Sea and comprises several different oil blends, including Brent Blend and Ekofisk crude. Often, this crude oil is refined in Northwest Europe. Another sweet light oil often referenced alongside UK Brent is West Texas Intermediate (WTI). WTI oil prices amounted to 76.55 U.S. dollars per barrel in 2024.

Brent decreased 0.64 USD/BBL or 0.85% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Brent crude oil - values, historical data, forecasts and news - updated on March of 2025.

On March 24, 2025, the Brent crude oil price stood at 73.05 U.S. dollars per barrel, compared to 69.11 U.S. dollars for WTI oil and 75.11 U.S. dollars for the OPEC basket. These were slight increases compared to the previous weeks, which had seen some of the lowest prices in four years.Europe's Brent crude oil, the U.S. WTI crude oil, and OPEC's basket are three of the most important benchmarks used by traders as reference for oil and gasoline prices. Lowest ever oil prices during coronavirus pandemic In 2020, the coronavirus pandemic resulted in crude oil prices hitting a major slump as oil demand drastically declined following lockdowns and travel restrictions. Initial outlooks and uncertainty surrounding the course of the pandemic brought about a disagreement between two of the largest oil producers, Russia and Saudi Arabia, in early March. Bilateral talks between global oil producers ended in agreement on April 13th, with promises to cut petroleum output and hopes rising that these might help stabilize the oil price in the coming weeks. However, with storage facilities and oil tankers quickly filling up, fears grew over where to store excess oil, leading to benchmark prices seeing record negative prices between April 20 and April 22, 2020. How crude oil prices are determined As with most commodities, crude oil prices are impacted by supply and demand, as well as inventories and market sentiment. However, as oil is most often traded in future contracts (whereby a contract is agreed upon, while the product delivery will follow in the next two to three months), market speculation is one of the principal determinants for oil prices. Traders make conclusions on how production output and consumer demand will likely develop over the coming months, leaving room for uncertainty. Spot prices differ from futures in so far as they reflect the current market price of a commodity.

The price of crude coconut oil is influenced by factors such as supply and demand dynamics, weather conditions, production levels, global market trends, and economic factors. Substitute oils like palm oil and soybean oil also impact the demand. Major coconut oil producers are countries in tropical regions like the Philippines, Indonesia, and India. Coconut crop yield, weather phenomena, disease outbreaks, and the global economic environment affect the price. Market demand, culinary applications, industrial

India Retail Price Index: Industrial Workers: 2001p: Weights: Personal Care and Effects: Hair Oil data was reported at 0.570 % in Oct 2018. This stayed constant from the previous number of 0.570 % for Sep 2018. India Retail Price Index: Industrial Workers: 2001p: Weights: Personal Care and Effects: Hair Oil data is updated monthly, averaging 0.570 % from Jan 2006 (Median) to Oct 2018, with 154 observations. The data reached an all-time high of 0.570 % in Oct 2018 and a record low of 0.570 % in Oct 2018. India Retail Price Index: Industrial Workers: 2001p: Weights: Personal Care and Effects: Hair Oil data remains active status in CEIC and is reported by Labour Bureau Government of India. The data is categorized under India Premium Database’s Inflation – Table IN.IG031: Retail Price Index: Industrial Workers: 2001=100: Weights: Miscellaneous: Personal Care and Effects.

India Retail Price Index: Industrial Workers: 2001p: Personal Care and Effects: Hair Oil data was reported at 230.030 2001=100 in Oct 2018. This records an increase from the previous number of 229.640 2001=100 for Sep 2018. India Retail Price Index: Industrial Workers: 2001p: Personal Care and Effects: Hair Oil data is updated monthly, averaging 174.340 2001=100 from Jan 2006 (Median) to Oct 2018, with 154 observations. The data reached an all-time high of 230.030 2001=100 in Oct 2018 and a record low of 116.710 2001=100 in Jan 2006. India Retail Price Index: Industrial Workers: 2001p: Personal Care and Effects: Hair Oil data remains active status in CEIC and is reported by Labour Bureau Government of India. The data is categorized under India Premium Database’s Inflation – Table IN.IG015: Retail Price Index: Industrial Workers: 2001=100: Miscellaneous: Personal Care and Effects.

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Naphtha Market Size 2025-2029

The naphtha market size is forecast to increase by USD 47.1 billion at a CAGR of 3.8% between 2024 and 2029.

The market is witnessing significant growth due to the increasing demand for naphtha In the petrochemical industry. The petrochemical sector is experiencing an increase in demand for naphtha as it is a crucial feedstock for the production of various chemicals such as polyethylene and polypropylene. Moreover, the investment In the extraction of naphtha is on the rise, which is further boosting the market growth. Naphtha's role extends to fuel applications, such as LPG, and non-fuel uses, like rubber production, oils, edible fats, personal care products, and synthetic rubber.
However, the market is also facing challenges due to stringent regulations on the usage of naphtha. Governments and regulatory bodies are imposing strict norms to reduce the environmental impact of naphtha usage. These regulations are expected to impact the market growth In the coming years. Overall, the market is poised for steady growth, driven by the increasing demand from the petrochemical industry and investment in extraction, while facing challenges due to regulatory hurdles.

What will be the Size of the Naphtha Market During the Forecast Period?

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The market is experiencing dynamic shifts In the post-pandemic period, with economies recovering and industries resuming operations. This medium-term outlook brings both opportunities and challenges for market participants. Naphtha, a versatile petrochemical feedstock, is integral to various industries, including fertilizers, additives, and polymers. Budgeting and investments In these sectors will be crucial as raw material prices continue to exhibit volatility. The shift in trends towards cheaper alternatives, such as propane, may impact naphtha's demand. In the long term, the implications of this shift could significantly alter the market landscape.
Moreover, industries relying on naphtha as a raw material or feedstock must closely monitor these trends and adapt accordingly. Factors like economic conditions, technological advancements, and regulatory changes will continue to influence the market. As the market evolves, stakeholders must remain agile and prepared for the future.

How is this Naphtha Industry segmented and which is the largest segment?

The naphtha industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Heavy naphtha
  Light naphtha


Application

  Chemicals
  Energy/fuel
  Others


Geography

  APAC

    China
    India
    Japan
    South Korea


  North America

    Canada
    US


  Europe

    Germany
    UK


  Middle East and Africa



  South America

    Brazil

By Type Insights

The heavy naphtha segment is estimated to witness significant growth during the forecast period.

Heavy naphtha, a key component of the market, has experienced significant demand due to its versatile applications. In the medium term, heavy naphtha has emerged as a crucial feedstock for petrochemical production, contributing to the manufacture of various products such as plastics, synthetic rubbers, and resins. Additionally, it plays a pivotal role In the production of gasoline and other fuel products. The increasing preference for shale gas has driven the demand for heavy naphtha as a diluent for crude oil transportation. The petrochemical sector, particularly in emerging and industrialized economies, is witnessing capacity expansions, leading to increased demand for heavy naphtha.

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The heavy naphtha segment was valued at USD 132.60 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 40% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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Naphtha, a versatile commodity used as a feedstock in various industries, experiences increasing demand due to economic expansion and industrial growth, particularly In the Asia Pacific (APAC) region. The petrochemical sector, a major consumer of naphtha, is witnessing significant expansion in APAC, driven by the production of essential applications such as plastics, solvents, and synthetic fibers. Key industries, including coatings, power plants, steel plants, fertilizer units, paint applications, and capacity expansions, rely on naphtha as a critical input. The medium-term implications of these trends include potent

India Consumer Price Index (CPI): Fuel and Light data was reported at 178.300 2012=100 in Feb 2025. This records an increase from the previous number of 178.200 2012=100 for Jan 2025. India Consumer Price Index (CPI): Fuel and Light data is updated monthly, averaging 136.550 2012=100 from Jan 2011 (Median) to Feb 2025, with 170 observations. The data reached an all-time high of 186.500 2012=100 in Aug 2023 and a record low of 86.200 2012=100 in Jan 2011. India Consumer Price Index (CPI): Fuel and Light data remains active status in CEIC and is reported by Ministry of Statistics and Programme Implementation. The data is categorized under Global Database’s India – Table IN.IB001: Consumer Price Index: 2012=100. [COVID-19-IMPACT]

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IT Spending Market in Oil and Gas Industry Size 2024-2028

The it spending market in oil and gas industry size is forecast to increase by USD 5.25 billion at a CAGR of 5.06% between 2023 and 2028.

In the Oil and Gas industry, IT spending continues to be a significant focus area for companies seeking to optimize operations, enhance productivity, and improve asset management. Customized reports and data from global and regional markets play a crucial role in informing strategic decisions. Consultants and industry experts conduct interviews and analyze prices, trade data, and supply chain information to provide valuable insights. Internal databases and financial reports are essential sources of information, while governmental databases offer regulatory and policy updates. The increasing need for asset optimization and predictive maintenance is driving IT spending, as digital technologies are adopted to enhance operational efficiency.
However, cybersecurity threats pose a significant challenge to IT spending in the industry, requiring continuous investment in security measures to protect critical infrastructure and data. 

What will be the Size of the Market During the Forecast Period?

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The oil and gas industry is a critical sector in the US economy, contributing significantly to the country's energy production and economic growth. To remain competitive and efficient in today's digital landscape, organizations in this industry are investing in IT infrastructure, software, hardware, and services to meet their organizational objectives. IT spending in the oil and gas sector is on the rise, driven by the need to improve operational efficiency, enhance decision-making capabilities, and ensure cybersecurity. The industry is witnessing a momentum towards digital transformation, with the adoption of cloud computing, artificial intelligence (AI), the Internet of Things (IoT), and other advanced technologies.
The digital transformation of the oil and gas industry is creating a synergistic effect, where various technologies are working together to optimize business processes and enhance productivity. For instance, AI and machine learning algorithms are being used to analyze vast amounts of data from various sources, enabling data-driven decision-making and predictive maintenance. Cloud computing is another technology that is gaining popularity in the oil and gas industry, as it offers scalability, flexibility, and cost savings. It enables organizations to store and process large volumes of data from various sources, including drilling operations, production facilities, and supply chain management.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Component

  Hardware
  Services
  Software


Application

  Upstream
  Downstream
  Midstream


Geography

  North America

    US


  APAC

    China
    India


  Middle East and Africa



  Europe



  South America

By Component Insights

The hardware segment is estimated to witness significant growth during the forecast period.

The IT spending market in the oil and gas industry encompasses essential hardware components for operations and innovation. Hardware investments primarily focus on high-performance computing infrastructure, including servers, data storage solutions, and networking equipment. These components are integral to digital transformation initiatives, enabling data collection, analysis, and management throughout the oil and gas value chain. Servers are vital for processing and managing the massive data generated from exploration, production, refining, and distribution processes. With the integration of advanced technologies like cloud computing and edge computing, oil and gas companies are investing in powerful servers to boost operational efficiency and enhance decision-making capabilities.

In addition to hardware, software, services, and connectivity solutions are significant areas of investment. Software solutions, such as collaboration tools and business intelligence platforms, facilitate remote and hybrid work models, enabling employees to work from anywhere while maintaining productivity and communication. Cybersecurity solutions are also a priority to secure sensitive data and protect against potential threats. The synergistic effect of these IT investments results in data-driven decision-making, improved operational efficiency, and increased competitiveness in the oil and gas industry.

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The Hardware segment was valued at USD 7.98 billion in 2018 and showed a gradual increase during the foreca

The global Butyl Acrylate market will expand significantly by xx% CAGR between 2024 and 2031.

The demand for N-butyl acrylate product type is rising in the global Butyl Acrylate market. 


Demand for high-purity types is rising in the global Butyl Acrylate market. 


Demand for paints and coating applications is rising in the global Butyl Acrylate market. 


North American region will continue to lead, as dominating region and highest compound annual growth rate in the forecast year 2024 to 2031.

Current scenario of the Butyl Acrylate market

Key opportunity of butyl acrylate market

Increasing demand for bio-based and sustainable butyl acrylate acts as an opportunity.

As consumers and regulators become increasingly aware of the negative effects that petroleum-based butyl acrylate has on the environment and human health, there is a growing market demand for bio-based and sustainable butyl acrylate. It usually comes from non-renewable, fossil fuel-based resources like natural gas and crude oil, which are linked to waste production, pollution, and greenhouse gas emissions.

For example, Numerous industry participants are looking at renewable and alternative sources, like corn, sugar, and biomass, which have lower carbon footprints than traditional sources. These are made from renewable feedstocks by chemical catalysis or fermentation methods, created by Myriant Corporation, OPX Biotechnologies, and BASF.

Source (https://chemicals.basf.com/global/en/Catalysts/hydrogenation-specialty/sustainability.html)

Key drivers of the butyl acrylate market

Expansion in the automotive industry drives butyl acrylate market growth.

Rapid urbanization and an increase in disposable income are driving up demand for car ownership in emerging economies. big manufacturing hubs like China, Japan, and Germany are also seeing a return to pre-pandemic levels of car output, which is a big factor in the growth of the automobile sector. In 2021, global car production increased by 3% compared to 2020, with China, Japan, and Germany leading the production. Butyl acrylate is an essential ingredient in the production of premium adhesives, sealants, and coatings that support lightweight manufacturing, enhancing fuel efficiency and guaranteeing long-term durability and resistance to severe environments.

Furthermore, the growing popularity of electric and hybrid cars as well as technological developments in driving are making this a profitable time for automakers and supporting the expansion of the butyl acrylate market.

For example, India depends heavily on fossil fuels-based energy, and EV adoption is especially important for our country's economy and its growth prospects. The acceptance and development of the EV industry have received significant attention from the Indian government over the last several years, and this is manifest in the widespread use of electric vehicles. The governments, both at the central and state levels, are providing strategic policy support for achieving majority EV penetration by 2030 via programs like FAME, PLI, Tax Incentives (direct and indirect), tariffs, etc.

Source (https://auto.economictimes.indiatimes.com/news/industry/how-evolving-trends-redefine-future-of-auto-industry-in-india/101452414)

With an increase in the automotive sector, it supplements the butyl acrylate market. As it creates high-quality adhesives, sealants, and coatings that support lightweight production and guarantee long-term durability as well as resistance to severe environments, butyl acrylate is an essential component.

Rise in Paints and Coatings application leads to Butyl acrylate market growth 

The surge in construction activities, rapid urbanization, and renovation or maintenance of existing infrastructure along with an increase in infrastructure investments in the developing countries is propelling the demand for quality paints and coatings globally.

For example, The need for quicker construction is growing as a result of the boom in building activities in developing nations. According to the Global Powers of Construction (GPoC), revenue increased 6.3% to US$ 1,940 trillion in 2022. Construction sales surged despite obstacles like rising commodity prices, supply chain disruptions, and inflation brought on by a European war. But 2023 is predicted to witness...

Sunflower Oil increased 56 USD/T or 4.42% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. This dataset includes a chart with historical data for Sunflower Oil.

The statistic shows the inflation rate in India from 1987 to 2023, with projections up until 2029. The inflation rate is calculated using the price increase of a defined product basket. This product basket contains products and services, on which the average consumer spends money throughout the year. They include expenses for groceries, clothes, rent, power, telecommunications, recreational activities and raw materials (e.g. gas, oil), as well as federal fees and taxes. In 2023, the inflation rate in India was around 5.36 percent compared to the previous year. See figures on India's economic growth for additional information. India's inflation rate and economy Inflation is generally defined as the increase of prices of goods and services over a certain period of time, as opposed to deflation, which describes a decrease of these prices. Inflation is a significant economic indicator for a country. The inflation rate is the rate at which the general rise in the level of prices, goods and services in an economy occurs and how it affects the cost of living of those living in a particular country. It influences the interest rates paid on savings and mortgage rates but also has a bearing on levels of state pensions and benefits received. A 4 percent increase in the rate of inflation in 2011 for example would mean an individual would need to spend 4 percent more on the goods he was purchasing than he would have done in 2010. India’s inflation rate has been on the rise over the last decade. However, it has been decreasing slightly since 2010. India’s economy, however, has been doing quite well, with its GDP increasing steadily for years, and its national debt decreasing. The budget balance in relation to GDP is not looking too good, with the state deficit amounting to more than 9 percent of GDP.

According to cognitive market research-"Global butane market size 2023 was XX Million. Butane Market compound annual growth rate (CAGR) will be XX% from 2024 till 2031."

  Based on application, the market is segmented into LPG, Petrochemicals, Refineries, Others. In 2022, the LPG application sector held a dominant market share of XX%.
  Based on type, the market is segmented into N-butane and iso-butane. The N-Butane segment held the largest share in the butane market in 2022.
 In 2023, the Asia Pacific region held the greatest proportion of the global butane market. The economy and populations of nations like Bangladesh, Indonesia, China, India, and others are growing quickly.
 Europe presents lucrative growth opportunities owing to the rising production of liquid petroleum gas (LPG) in countries like Russia, Germany, the UK, and others

Current scenario of the global butane market

Key drivers of the Butane Market

Growing Residential LPG Demand Will Fuel Market Expansion

Demand for LPG in residential applications has increased, particularly in emerging nations. The use of LPG cylinders for residential applications is being heavily promoted by governments in emerging nations. The government is providing several subsidies to encourage the use of LPG. For instance, the Pradhan Mantri Ujjwala Yojana, introduced by the Indian government, aims to link undeveloped regions to LPG. The improvement in LPG coverage in India from 61.9% in April 2016 to 105.4% in November 2022, illustrating the growth of the LPG sector in the country in recent years. Furthermore, a growing population and increased disposable income are driving the rapid growth of the hotel industry in emerging nations. It is anticipated that this will in turn create profitable growth prospects in the years to come. https://www.pmuy.gov.in/about.html Furthermore, as there is a large latent demand for LPG in the majority of nations, where LPG supply capacity and distribution facilities remain underdeveloped, LPG demand from the residential and commercial sectors will continue to be a major driver of future demand growth. Growth potential and incremental demand for LPG have been demonstrated by the emergence of new LPG markets in China and South Korea. Furthermore, butane is a necessary ingredient in LPG. The percentage of butane and propane gases in the LPG mixture can vary from 100% propane to 20% propane and about 80% butane, depending on the country and region. Over the course of the projection period, the global market is predicted to rise as new LNG projects and refineries contribute to the LPG sector's expected growth.

Growing Industrial Sector Demand for Butane driving the market growth

For the petrochemical production of ethylene and other derivatives, butane is utilized as a feedstock. Butane is also utilized as a fuel for cigarette lighters and as a feedstock component in the manufacture of base petrochemicals. It is also a component of gasoline in steam cracking. Furthermore, the majority of regular butane is blended with gasoline, especially during the colder months when isobutane is scarcer as a result of isomerization, which also converts regular butane into isobutane. One can utilize regular butane as a feedstock for petrochemicals. Up to 27 million cars worldwide are powered by Autogas, a propane and butane blend. It is the third most used automotive fuel worldwide. https://www.iac.org.in/cleaner-air#:~:text=Autogas%20%2D%20also%20called%20Automotive%20LP,contributing%20significantly%20to%20cleaner%20air. Moreover, isobutane—whether it comes from refineries, natural gas plants, or isomerization from ordinary butane—is utilized to produce alkylates, which increase the octane and decrease the volatility of gasoline. High-purity isobutane can be used as a refrigerant. Because it is less expensive and has less of an impact on the environment, maleic anhydride based on n-butane is the one that is most commonly utilized. Isobutane is used in 392 formulations at up to 98% in nail products, according to data on frequency of use and concentration of use from 2023 and 2022; in powder goods, it was reported to be used in 338 formulations at up to 83% in 2001. https://www.cir-safety.org/sites/default/files/Isobutane.pdf As a result, the expanding needs for butane from the petrochemical and automotive industries are driving up global ...

India Retail Price Index: Industrial Workers: 2016p: Others: Hair clip / Baby Oil / Bangles / Cold Cream / Massage Oil etc data was reported at 150.000 2016=100 in Oct 2024. This stayed constant from the previous number of 150.000 2016=100 for Sep 2024. India Retail Price Index: Industrial Workers: 2016p: Others: Hair clip / Baby Oil / Bangles / Cold Cream / Massage Oil etc data is updated monthly, averaging 143.800 2016=100 from Sep 2020 (Median) to Oct 2024, with 50 observations. The data reached an all-time high of 150.000 2016=100 in Oct 2024 and a record low of 125.100 2016=100 in Sep 2020. India Retail Price Index: Industrial Workers: 2016p: Others: Hair clip / Baby Oil / Bangles / Cold Cream / Massage Oil etc data remains active status in CEIC and is reported by Labour Bureau. The data is categorized under India Premium Database’s Inflation – Table IN.IH022: Retail Price Index: Industrial Workers: 2016=100: Miscellaneous: Personal Care & Effects.

The statistic shows the gross domestic product (GDP) per capita in India from 1987 to 2029. In 2020, the estimated gross domestic product per capita in India amounted to about 1,915.55 U.S. dollars. See figures on India's economic growth here. For comparison, per capita GDP in China had reached about 6,995.25 U.S. dollars in 2013.

India's economic progress

India’s progress as a country over the past decade can be attributed to a global dependency on cheaper production of goods and services from developed countries around the world. India’s economy is built upon its agriculture, manufacturing and services sector, which, along with its drastic rise in population and demand for employment, led to a significant increase of the nation’s GDP per capita. Despite experiencing rather momentous economic gains since the mid 2000s, the Indian economy stagnated around 2012, with a decrease in general growth as well as the value of its currency. Residents and consumers in India have recently shown pessimism regarding the future of the Indian economy as well as their own financial situation, and with the recent economic standstill, consumer confidence in the country could potentially lower in the near future.

Typical Indian exports consist of agricultural products, jewelry, chemicals and ores. Imports consist primarily of crude oil, gold and precious stones, used primarily in the manufacturing of jewelry. As a result, India has seen a rather highly increased demand of several gems in order to boost their jewelry industry and in general their exports. Although India does not export an extensive amount of goods, especially when considering the stature of the country, India has remained as one of the world’s largest exporters.

Cost of food in India increased 3.75 percent in February of 2025 over the same month in the previous year. This dataset provides - India Food Inflation - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The consumption volume of petroleum products in India was approximately 205 million metric tons in fiscal year 2022. The country was ranked third with regard to primary energy consumption across the globe. With the industry growing rapidly, inland production of petroleum products does not suffice. The import volume of petroleum products reached figures close to 33 million metric tons during the fiscal year of 2019.

Road ahead

With the backing of robust economic growth and a booming auto motive industry, the demand for petroleum products was anticipated to grow as suggested by an annual growth rate of more than three percent observed in the fiscal year 2019. Although the country’s auctioned renewable capacity stood close to 70 percent in 2017, the market in the renewable sector had not been so welcoming.

Switching gears

With oil reserves amounting to less than a billion metric tons in 2017, a radical change in the transportation policy of the country could benefit the situation. Rapid globalization and fast changing technology combined could salvage what is left of the reserves. In a bright sunny country with ample sunlight hours, investments in solar energy and replacement of conventional vehicles with electric vehicles might hold the key to a sustainable future.

India Retail Price Index: Industrial Workers: 2016p: Hair Oil, Hair Cream etc data was reported at 115.500 2016=100 in Oct 2024. This records a decrease from the previous number of 116.300 2016=100 for Sep 2024. India Retail Price Index: Industrial Workers: 2016p: Hair Oil, Hair Cream etc data is updated monthly, averaging 114.300 2016=100 from Sep 2020 (Median) to Oct 2024, with 50 observations. The data reached an all-time high of 117.300 2016=100 in Jun 2023 and a record low of 111.900 2016=100 in Dec 2020. India Retail Price Index: Industrial Workers: 2016p: Hair Oil, Hair Cream etc data remains active status in CEIC and is reported by Labour Bureau. The data is categorized under India Premium Database’s Inflation – Table IN.IH022: Retail Price Index: Industrial Workers: 2016=100: Miscellaneous: Personal Care & Effects.