Petrol Pump operation is considered one of the most lucrative businesses in India. India is the 2nd largest populated country in the world with more than 135 crore people. The total number of registered vehicles in India is more than 25 core and every year more than 1 crore vehicles were coming to the roads. India imports 82% of its oil needs and aims to bring that down to 67% by 2022 by replacing it with local exploration, renewable energy, and indigenous ethanol fuel. India was the third top net crude oil (including crude oil products) importer of 205.3 Mt in 2021.
India has more than 70 thousand petrol pumps. India is the third-largest consumer of crude oil in the world, after the United States and China. The country accounted for 4.81% of total world oil consumption in 2018-19. The estimated total consumption of crude oil in India rose from 160.77 MMT in 2008-09 to 251.93 MMT in 2017-18 with a CAGR of 4.59%. High-speed diesel oil accounted for 39.3% of the total consumption of all types of petroleum products in 2017-18, followed by petrol .1.6 million barrels of Diesel are used per day in India. 4 million barrels of petrol per day. One barrel equals 159 liters, now you can imagine the quench of the Indian automobile sector for fuel.
Depending on their strengths, the Indian petrol pump industry now has two types of competitors. ‘The new entrants' – (private players) who are more professional and aggressive in their approach and have a flair for marketing, and ‘The old players' – (government-regulated organisations) for whom ‘marketing' has never been a strength, but their strength is their enormous experience, understanding, and knowledge of the Indian petrol market and its operations, and most importantly, the extremely low cost of capital.
As in branding, the early mover has an obvious advantage, because everyone is moving fast to seize the opportunity. As a result, a sense of urgency and restlessness can be felt in the market as companies want to establish their brands as quickly as possible and to attract customers with their brands and differentiating services.
Private players, who mainly own discount outlets along highways, are expected to grow their share of diesel revenue from 9.2 percent to 15 percent over the next 4-5 years. However, public sector OMCs are proposing to install 32% of the planned pumps in rural areas. As a result, the additional concern is whether a growing rural drive is economically wise "According to the study, demand for auto fuels in India is projected to grow at a modest pace of about 5GR until fiscal 2023, compared to 6GR between fiscals 2011 and 2018. In reality, up until fiscal 2030, auto fuel demand is expected to decline at a 3.8 percent compound annual growth rate (CAGR) to 132 million tonnes.
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