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Reliance is present in several businesses across the globe. They had also entered the fuel industry and had opened several fuel pumps across India.
During 2008 Reliance fuel pumps were shut down in India, all 1,400 of them. Post deregulation of fuel prices in India the company plans on reopening its fuel pumps.
The Indian Government deregulated fuel prices completely in 2014. Post that Reliance reopened 320 of their fuel pumps across India. 1,080 fuel pumps are expected to open soon and by march, 2016 all of them will be functional.
Currently Bharat Petroleum, Hindustan Petroleum and Indian Oil are the main sellers of fuel in the country. Other fuel providers like Shell and Reliance have a very small market share and barely exist.
With the deregulation of transport fuel in India private fuel pumps will surely make a comeback. It is unclear of Reliance will provide all benefit of USD to INR exchange rate to customers.
Previously Reliance fuel pump offered fuel, which was more expensive than state owned fuel stations. We hope they will achieve competitive pricing, along with better fuel quality compared to competitors.