A fast-read primer on India's petroleum products and refining sector — the backdrop against which we benchmark every company's cost structure in this category.
Domestic fuel consumption has grown for a decade, with refining capacity set to nearly double by 2030.
FY14 → FY25
FY25 → FY26 (Apr-Feb)
Refining scale, wide distribution reach, and policy support define the sector.
A sample of the industry-wide and policy moves shaping the sector through early 2026.
Listed Indian Petroleum Products companies in tDoBe's cost-benchmarking coverage.
The market facts above are public background. What follows is tDoBe's own work: every "Other Expenses" line from these companies' own financial records, read by hand and sorted into one clear set of categories — not a keyword search, not each company's own way of reporting it.
Each mark is one company's total Other Expenses as % of net revenue. No company is named here.
Ranked from biggest to smallest.
Freight/Distribution & Logistics leads at 2.5% of revenue, followed by Miscellaneous/Others (1.6%) — the physical cost of moving and refining fuel shows up directly for the sector's large refiners and marketers.
Two very different cost signatures share this one sector code: large fuel refiners and marketers, where logistics and power dominate, and smaller lubricant and specialty-oil companies, where advertising and brand-technical fees run proportionally far larger — a branded-consumer-product profile closer to FMCG than industrial refining. That split, spanning some of India's largest listed companies down to a mid-cap specialty manufacturer, drives the 7.9x spread.
All nine companies collected for this sector are genuine operating petroleum or lubricant businesses and are used in every ratio, with no exclusions.
This is the free, sector-wide view. It tells you where Petroleum Products stands as a whole — not where your own company stands against it, category by category, in rupees.
A below-average number is a reason to call too — the benchmark keeps improving as we go.