The news source noted that Indian oil companies like Hindustan Petroleum (HPCL), Bharat Petroleum (BPCL) and IndianOil (IOC) are promoting their own fuel brands, while gradually stopping the sale and supply of normal fuels, which are subject to subsidies.
IOC has reportedly converted 26 of its 52 fuel stations in the Indian city of Mumbai to branded fuel-only outlets. BPCL has also stopped selling regular fuel at 10 outlets each in Mumbai and New Delhi, with more expected to follow.
PetrolWorld stated that other major Indian cities are expected to see similar conversions, with industry sources indicating that the big three fuel retailers have agreed to phase out unbranded products gradually, from a majority of their outlets.
This move is reportedly aimed at recouping a part of the losses oil firms face by selling fuel at subsidized rates. Branded petrol costs INR3 more than the unbranded variant, while diesel costs INR1.10 more than the plain version, on an average.
The news source noted that the Indian government is expected to allow fuel marketing companies to raise prices of branded fuel products, to help provide relief to the industry, which is facing losses of around INR5.5 billion every day.
