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Private sector oil marketing companies have multiplied their share in the country’s fuel retailing segment on the back of fuel price deregulation since 2014.
In a written reply, Minister for Petroleum and Natural Gas Dharmendra Pradhan informed the Lok Sabha, “Consequent to announcement of policy to grant authorisation to market transportation fuels in March 2002, private players entered into the retail business.”
Pradhan said, as per information provided by the public sector oil marketing companies (OMCs), the market share of private companies in diesel retailing rose to 8.2 per cent in financial year 2017-18. This stood at 3.1 per cent during financial year 2015-16.
The share of private fuel companies in petrol retailing stood at 6.8 per cent during financial year 2017-18. This was at 3.5 per cent during the financial year 2015-16.
The government had deregulated petrol prices in June 2010 while diesel was deregulated in October 2014.
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