IOCL losing fuel retail market share to HPCL, BPCL
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As per the data revealed by oil ministry, Indian refining giant, Indian Oil Corporation (IOC) has lost significant proportion of its market share in the retail fuel market against its two competitors, Bharat Petroleum and Hindustan Petroleum, due to their increased focus on quality of fuels and service.
IOC's share in total petrol and diesel sales in the country dropped to nearly 53% in FY11 from around 54% in FY10.
In FY11, IOC's share in diesel and petrol market declined 0.9% and 0.3% to 47.1% and 44.7%, respectively. However, in the direct sales to whole sale clients, the company maintained its dominance of 77% stake.