Petroleum & Diesel Retail Market Report 2025 - Market Shares and Strategies Of Key Players
Petroleum industry plays an important role in the functioning of the economy. The petroleum industry can be divided into upstream, midstream, and downstream sectors. The upstream sector is engaged the exploration and production (E&P) of crude oil and natural gas. The midstream sector is responsible for processing, storage, and transportation of products such as crude oil, natural gas, and natural gas liquids. The downstream sector is involved in marketing and distribution of products, i.e. retailing.
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Retailing of petroleum products is a process where NOCs/dealers sell petroleum based products directly to customers. The filling stations selling fuels fall under the retail market. Petroleum and diesel retail belongs to the downstream sector of the oil & gas business. A petroleum retail outlet is a setup that offers a wide range of products derived from crude oil such as diesel and petroleum to end-users under one roof. In a petroleum retail outlet, consumers can get petroleum and diesel at one place through the use of multi-product dispensers (MPDs).
There exists high degree of competition among retail firms who focus on large volume of petroleum products in sites/outlets with modern outlets and other facilities. The price of the product and convenience, i.e. service and location, are the two important factors that a consumer considers while choosing a specific retail outlet or dealer. Furthermore, a few customers are willing to travel to get fuel such as petroleum and diesel at a cheaper rate. Fuel to retailers is supplied by fuel suppliers who are independent or national oil companies (NOC’). The prices the retailers pay for different petroleum products are decided on a daily rates in platts plus (in terms of US$).
The market for petroleum and diesel retailing is driven by the growing automotive sector across the globe. Growing population is driving the demand for energy fuels especially, petroleum and diesel. However, volatility in prices of crude oil is the dominant factor which decides the final retailing price of petroleum and diesel in any country. The business of a retailer is affected by government regulations & policies, prices of crude oil w.r.t end-product, and the location factor. Most retail outlets across the globe are governed by national oil companies of different countries. The drivers related to the PSU’s operating the retail outlets can be classified into fiscal drivers, standards of safety and environmental policies and regulation. Fiscal drivers are taxes such as fuel duty and rates in business and corporation taxes that affect the business of PFS.. The assessment by the VOA is based on the performance of the retail outlet. The final prices of retail include approximately 60% of VAT and fuel duty.
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The petroleum & diesel retail market can be segmented based on operator, license type, and product. In terms of operator, the market can be bifurcated into private and public. In terms of license type, the market can be segregated into company owned company operated (COCO), company owned dealer operated (CODO), and dealer owned dealer operated (DODO). Based on type of product, the market can be classified into petroleum and diesel.
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