IOC loses petrol, diesel market share
New Delhi   12-May-2011

In an alarming development, state-owned IndianOil (IOC) has lost a sizeable share of the market for diesel and petrol sales to its public sector rivals. The private sector does not have much of a share in the market for the two oil products. IOC saw its share of total diesel sales in the country drop to 52.8% in 2010-11 from 53.6% in the previous year, according to industry data. Though the drop in market share was 0.8%, in absolute numbers, IOC has lost 0.5 million tonnes of diesel volumes to public sector rivals Bharat Petroleum and Hindustan Petroleum.