A filling station in Kolkata, India
India revamps retail fuel business
The country is seeing a notable increase in petroleum product retail outlets, with private operators gaining market share
India’s retail fuel network is undergoing a major shift. And with its number of gasoline pumps now totalling more than 96,500, the country has the third-largest number of retail fuel outlets after the US and China. Retail fuel distribution in India is dominated by state-owned companies, including Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited, and Hindustan Petroleum Corporation Limited. These three account for about 90% of the retail fuel outlets in the country. Mangalore Refinery & Petrochemicals Limited, a subsidiary of the country’s largest E&P company, ONGC, is the fourth state-owned company in the retail space, with 164 outlets. Private companies op
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