Highways become prime location for fuel retailing

Mumbai: To expand its fuel retail network to 5,500 outlets, Reliance Industries Ltd and BP may look at having a presence on the national highways, as it is an underserved segment in the country. With oil marketing companies planning to set up over 80,000 petrol pumps in the next three years, highways, according to officials, are the most coveted destination.

“If you look at the fuel demand scenario in the country, all companies are optimistic about the retail business. Presence on the highways will be attractive for them as it is an underserved segment,” an OMC official said on the condition of anonymity.

Reliance Industries and BP’s announced a new joint venture on Tuesday to set up 5,500 fuel retail outlets. Oil marketing companies — Indian Oil Corp Ltd, Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) — have decided to set up close to 80,000 fuel retail outlets in the next three years.