Customers may have to shell out more for petrol and diesel from April as fuel retailers are looking to pass on the higher cost of producing Bharat Stage VI-compliant fuel, said two senior officials at the companies.
This would help the state-run fuel retailers recoup their investments in upgrading their refineries to produce the cleaner fuel, the officials said, requesting anonymity. They said a final decision would be subject to government approval. The refiners are estimated to have spent more than Rs 30,000 crore to improve their facilities, with India set to implement BS VI emission norms, the equivalent of Euro VI, from 1 April.
“We have made large investments in upgrading to BS VI and we need to get a return on our investments. This is only logical. The thought process is to recover cost and not profit-making,” one of the two officials cited earlier said on condition of anonymity. Read More
Latest posts by Moneycontrol.com (see all)
- Govt has not set deadline to launch electric vehicles: Official - August 21, 2019
- Rajasthan has great potential in renewable energy sector, says Ashok Gehlot - August 20, 2019
- PTC inks pact for 720 MW Mangdechhu plant in Bhutan - August 19, 2019