Key Points
New Delhi: Reliance-BP and Nayara Energy have nearly tripled their share of the countrys diesel sales to 9.4% in June from a year earlier, using price discounts to regain domestic customers they had lost last year while focusing on the high-margin export market...
Indian Oils market share gain was equally dramatic last year, rising from 42.4% in June 2021 as it stepped in to fill the gap left by the private players...
With such extraordinary margins, private players can afford to offer some discounts to regain customers, said the executive, adding that state-run players havent cut prices to defend their market share because they are looking at their overall gains...
And if they cut prices nationally, their volume gains may not be able to offset their margin loss, the executive said.. Private players share in the retail sales of petrol rose to 7.8% in June from 6.8% a year earlier..
The overall sale of diesel to bulk customers also doubled this June mainly because fuel retailers had allowed many large customers such as state transporters to buy fuels from their pumps last June as bulk prices were higher than the retail rates, another executive said.. RIL-BPs share in the retail sales of petrol rose to 1.9% from 1.3% while Nayaras share expanded to 5.5% from 3.6%..
