India has recently recorded 45% jump in petrol pumps in the last 6 years, probably the highest development rate in the world, as private and public division firms pushed to capture vending sites. With 60,899 outlets giving out petrol and diesel at the end of November, India is at the back compared to the US and China in the figure of petrol pumps, data accessible from Petroleum Analysis & Planning Cell of the Oil department.
In the year 2011, the country had 41,847 vents, of which 2,883 or 7.2% were owned or functional by all the private retailers like Essar oil and Reliance Industries. At present, private industries own 5,574, or 9.2% of the whole outlets, with Essar being the head with 3,990 stations. The US and China have around 1.2 lakh petrol stations having each.
More than a few countries around the world have seen the numeral sum of petrol pumps decreased as they all are moving towards (EVs) Electric Vehicles and interchange forms of power but they have grown-up in India, which is the world’s greatest increasing oil buyer market. India had in the year 2015 surpassed Japan as the world’s 3rd biggest oil overriding country following US and China. Petrol consumption increased by 9.2 % in the month of April till October of the existing fiscal year.
Oil ministry statistic showed that 18,952 outlets were more added from 2011 to 2017. Of the 60,899 petrol pumps in the country, 55,425 are actually owned by state-owned petrol retailers. (IOC) India Oil Corp owns and operates 26,589 petrol stations, out of which 7,332 are the rural outlets. (HPCL) Hindustan Petroleum Corp Ltd. is the 2nd largest petrol and diesel seller with 14,575 outlets, 3,139 being in the rural sites. Reliance Fuel Industries is going little slow on the fuel selling trade and has not added any latest site lately. It has mainly focused on reopening the petrol pumps that were earlier shut as it could not race with other subsidized value of petroleum at PSU retail outlets.