Oil firms to open 262 retail outlets in North

Vijay C Roy

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Tribune News Service

Chandigarh, August 25

To strengthen retail network in North, public sector oil companies will open 262 filling stations in the region, comprising Punjab, Haryana, Himachal Pradesh and J&K, in the current fiscal.

The maximum outlets will be opened in Haryana (150), followed by Punjab (78) and Himachal (21) by three public sector oil companies — IOC, BPCL and HPCL. In J&K, 13 outlets are planned for the current fiscal. Overall, 2,800 retail outlets are in the pipeline across the country for the current year.

As of June 30, Punjab had maximum retail outlets at 3,577 followed by Haryana (3,198), J&K (558) and Himachal (549). This was informed by Minister of State for Petroleum and Natural Gas Rameswar Teli.

According to sources, the northern region is one of the most promising markets for auto makers which have prompted the oil companies to expand their network. Among the three oil companies, Indian Oil is the market leader with share of 46.8% in MS (petrol) and 46.7% in diesel.

On the one hand, the increased number of outlets, especially in Punjab, may facilitate consumers, but on the other hand, the dealers are worried about their viability.

According to dealers, the average monthly sale of petrol and diesel in 2019-20 was 126 KL per station in Punjab. In Himachal, it was 195 KL and J&K and Ladakh had 169 KL per station. At 800 KL per month, Chandigarh has the highest sales in the region.