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Commodity Market Report

India retail fuels long-term outlook

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15 December 2022

India retail fuels long-term outlook

Report summary

The Indian road transport fuel market is the second largest in the world after China and demand is forecast to grow rapidly out to 2040 driven by rising income levels as well as industrial activity. Several government-owned companies, known as public sector undertakings (PSUs), including Indian Oil, Bharat Petroleum, Hindustan Petroleum and Reliance control the bulk of the country’s downstream oil market. There are over 80,000 service stations across the country, the majority are dealer owned with a fixed commission per unit of fuel sold.

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    India Retail Fuels Long Term Outlook.pdf

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