New Delhi, June 6 -- India's major private refiners, Reliance Industries and Nayara Energy, are increasingly turning their attention to the domestic fuel market as global refining margins tighten.

This strategic shift comes as demand in developed markets and China weakens, and competition from new refineries globally intensifies.

The International Energy Agency projects India to become the largest source of global oil demand growth through 2030, making the domestic market more attractive for refiners.

Reliance and Nayara have capitalised on discounted Russian crude to offer competitive prices at the pump.Reliance's retail arm, Jio-BP, has expanded its network to nearly 1,916 outlets, with plans to invest approximately Rs 10 billion ann...