Reliance, Essar gear up for fuel deregulation

NEW DELHI: Essar Oil and Reliance Industries plan to boost retail networks if India eases control on fuel prices, a move that will reduce both exports and imports of refined products, officials and analysts said.

Essar Oil and Reliance Industries had together captured about 17 per cent of the domestic retail market for diesel and accounted for 10 per cent of gasoline sales by 2005 before heavily subsidised sales by state run firms knocked them out of the arena