The government is likely to notify a policy on Tuesday for blending 15 per cent methanol with petrol, a move set to bring down fuel cost for motorists besides reducing pollution. Apart from reducing cost, the proposed fuel mix is expected to save huge foreign exchange of the country by cutting oil import.
A coal by-product, methanol is likely to cost only about Rs 22-24 a litre, thus reducing petrol price by about 10 per cent.
The government think tank NITI Aayog had earlier made a presentation to the Prime Minister’s Office (PMO) on the possible use of methanol and how its sufficient supply could be ensured for blending.
Ever since it came to power, the Modi government has been pushing for various alternative fuels to secure the country’s long-term energy needs. It has been promoting the use of solar power, wind power and bio-fuels that includes 10 per cent ethanol blending with petrol. Earlier this month, it approved a new bio-fuel policy allowing the use of food substitutes and food grains as feedstock for production of ethanol meant for blending with petrol.
“We have been working on a policy for methanol blending. It will be announced soon. Its implementation will help cut pollution and fuel cost,” said an official. Read More
Latest posts by Mydigitalfc (see all)
- Petrol And Diesel Prices Set To Break All-time High Levels - July 16, 2018
- GST Won’t Stop Oil Price Fluctuations: Sanyal - June 11, 2018
- Govt May Unveil Policy On Methanol Blending In Petrol - May 29, 2018