Thursday 25 March 2010

Cleaner petrol, diesel to cost more from April 1

NEW DELHI: Cleaner, but costlier, Euro-IV standard petrol and diesel will be available from April 1 in 13 cities across the country, petroleum secretary S Sundareshan said in New Delhi on Wednesday.

At a function to mark the launch of the cleaner fuel, he said: "From April 1, Euro-IV standard fuel will be available in 13 cities in India". These cities will include Delhi, Mumbai, Kolkata, Chennai, Hyderabad and Bangalore.

Sundareshan noted that the oil firms had made an investment of over Rs 40,000 crore to upgrade their refineries to produce the cleaner grade of petrol and diesel. This was likely to be onpassed to the consumer, he indicated.

The secretary said the Euro-IV petrol will cost 46 paise per litre more than Euro-III, while Euro-IV diesel will be 26 paise costlier.

Sundareshan added that oil firms were already facing a loss of Rs.70,000 crore this year as auto fuels and cooking gas were sold at highly subsidized rates.

No comments:

Post a Comment

New Tax Regime or Old – What should you choose?

The budget 2020 saw the finance minister Nirmala Sitraman announce a new tax regime with more tax slabs and lower tax rates. This was long...