Oil Companies Ask Govt to charge Premium on Retail Fuel Prices, Methanol-Blended Fuel Being Considered for Vehicles in India

Oil marketing companies ask government to charge premium on retail fuel prices to support BS-VI switch. Methanol-blended fuel being considered to trim oil import bill and consumers' fuel expenses.

 

FUEL SEE-SAW

Oil marketing companies ask govt to charge premium on retail fuel prices to support BS-VI switch.

What Could Go Up...: Public and private sector oil marketing companies (OMCs) have approached the Petroleum Ministry to seek support for a plan to raise consumer prices of auto fuels to recover their investment in upgrading their refineries to produce BS Stage-VI less-polluting fuel.

 

If the government accepts these companies' demands, OMCs could charge a premium on retail prices of petrol and diesel. Thus, retail prices of petrol and diesel could come at a premium of about INR0.80 a litre and INR1.50 a litre respectively for the next five years. CNBC TV18

Methanol-blended fuel being considered to trim oil import bill and consumers' fuel expenses.

...Could Also Go Down: Transport Minister Nitin Gadkari has reportedly written to Petroleum Minister Dharmendra Pradhan asking him to "make all efforts" to ensure that methanol is readily available for commercial use at fuel stations.

 

Presently, vehicles in India use up to 10% ethanol-blended fuel. Using methanol, or methyl alcohol, has its own benefits. Methanol-blended fuel could potentially reduce one’s fuel bill by at least 10%, lower vehicular pollution levels by over 30%, and save the exchequer INR5,000cr in its annual import bill. ET Auto