Private Fuel Retailers Gain Ground Amid Stable Prices

17 Sep 2024 , 12:47 PM

Due to a decline in worldwide refining profits and constant domestic pump pricing, Reliance Industries and BP’s joint venture has sold almost 50% more gasoline and diesel in the retail market this year than it did last.

According to industry figures, RIL-BP’s sales of gasoline and diesel increased by 49% and 53%, respectively, between April and August of this year compared to the same time last year. As a result, they had a 2.75% national market share for gasoline and a 4.35% share for diesel.

With 14% more gasoline and 12% more diesel sold this year, Nayara—the refiner with the most gasoline pumps among private companies, supported by Rosneft—finished with a 5.7% market share for gasoline and 5.2% for diesel. This year, Shell, another private retailer, sold 11% fewer gasoline. But it did sell 6% more diesel. In both fuels, its percentage is less than 0.5 percent.

The retail proportion of private players in gasoline increased to 9% this year from 8% last year; in diesel, it increased to 9.6% from 7.7%.

According to news reports, refiners have been under extreme pressure to increase their margins for months, which has led them to concentrate on marketing margins through the retail sale of gasoline and diesel.

For feedback and suggestions, write to us at [e-mail]