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During Covid, the retail fuel industry suffered a downfall in its revenues as travel was restricted. But now the growth of these retail stations is expected to rise and far exceed the pre-covid levels. According to an analysis made by Mordor intelligence, the retail fuel industry will see a CAGR of more than 5% every year till 2027.
The retail sector for the marketing of fuel has seen effective participation from both the public and private sector companies. Today, India has 83000+ fuel retail stations, which to are increasing exponentially due to the rising demand and growth. Majorly, the retail players are :
State-owned enterprises like INDIAN OIL, BPCL, and HPCL together have around 70000 stations. JIO-BP (formerly Reliance Petroleum) has around 1459 fuel retail stations. SHELL has close to 400 outlets. NAYARA (FORMERLY ESSAR) operates more than 6500 fuel stations.
JIO-BP Partnership
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JIO-BP owned by Reliance Industries (JIO), and The British Petroleum Company plc (BP) is set to change the landscape of fuel retailing. It can be designated as a start-up that is backed by giants in this sector and experienced professionals who are working effectively.
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As of May 2022, Reliance operates 1400+ fuel stations across the country which after the Reliance BP partnership are rebranded as JIO-BP.
Apart from the conventional fuel pumps, RBML (Reliance BP Mobility Limited ) plans to create an effective user experience by implementing high-end artificial intelligence technology, battery swapping for EVs, integrated battery charging infrastructure, engine oils and desired auto consultancy, personalized user experience, consumer convenience services, and other digital solutions.
A wholly designed business model is created to meet the needs of the consumers and fetch maximum profit from each consumer.
How JIO-BP is reimagining fuel retailing?
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Shop/cafes
Wild Bean Café, which is a wholly owned brand under the banner of BP, predominantly serves customers arriving at the BP stations in the UK. RBML plans to introduce these coffee shops close to its outlet stations to increase its revenue and serving to the needs of the people.
Fuel4U
Under the Fuel4U services, RBML uses Mobile Dispensing Units which contain a Cascade to store the fuel at high pressure and provided it to the customer via a dispenser. This service is one of its kind as its on-demand delivers of fuel to its customer using WhatsApp as a medium.
There are a few start-ups that are currently working in this segment.
Mobil Oil
Castrol which is a leader in Mobil oil, and a subsidiary of BP will develop a network of express oil change outlets at JIO-BP Stations.
The customers will be offered free vehicle health check-ups and free oil-change services, at these outlets.
Two-wheeler owners who buy Castrol lubricant at these Express Oil Change outlets will be able to avail of the oil change service at no extra cost.
AirBP-Jio Aviation
Jio-BP partnership is not just limited to the marketing of Gas, Petroleum, and Mobil oils, rather it also has a strong foothold in the aviation refuelling industry. AirBP-Jio offers its services in Ambala, Bangalore, Delhi, Lucknow, Kolkata, Mumbai, Pune, Hyderabad, and Chennai.
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JIO-BP PULSE
In the electric vehicle segment, JIO-BP PULSE will cater to the growing customer base with EVs via its EV charging and battery swapping infrastructure.
It has partnered with BLU SMART MOBILITY and other players who either have a complete EV fleet or are transitioning towards EVs.
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This segment will see the most growth in the coming years as EVs have practically no emissions and is currently the only player who offers a battery swapping facility.
Partnership with malls, hospitals, and other commercial spaces to set up a dedicated charging facility will significantly reduce the impact on the Environment due to effective usage of already developed infrastructure.
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