IOC rolls out methanol blended petrol on pilot basis
Indian Oil Corporation (IOCL) has launched a new type of petrol in the market. The new type of petrol started as a pilot project can bring down the price of oil. Petrol ‘M15’ with a mixture of 15 percent methanol has been launched as a pilot project in Tinsukia district of Assam.
Relief from rising fuel prices
Minister of State for Petroleum and Natural Gas Rameswar Teli released ‘M 15’ petrol on Saturday in the presence of NITI Aayog member VK Saraswat and IOC Chairman SM Vaidya. Teli said mixing of methanol will provide relief from rising fuel prices. Due to the reduction in the price, the common man will get a lot of relief.
He said, ‘The pilot release of M15 Petrol is an important step towards being self-reliant in the matter of fuel, it will also reduce the import burden.’ In an official statement, the minister was quoted as saying that Indian Oil is taking this step to make India self-reliant in energy.
Petrol rate beyond Rs 105
Tinsukia was selected for this initiative considering the easy availability of methanol here. It is produced by Assam Petrochemical Limited. At present the price of petrol in the capital Delhi is running above Rs 105 per liter.
After the election results of five states, the rate of petrol and diesel was increased by the oil companies. The companies had increased the price by Rs 10 per liter from March 22 to April 6. After April 6, till now the companies have not increased the price.
