With the Government all set to switch over to the Euro-IV fuel standards from April 1, petrol and diesel that is to be sold in 13 big cities is likely to face another round of price hike.
Talking to newspersons during the 6th Asia Gas Partnership Summit here, Petroleum Secretary S. Sundareshan said that in view of the input costs going up for the new improvised fuels to be supplied in 13 cities, prices could stand marginally revised. However, the Petroleum Secretary refused to disclose the details about what kind of hike could be in the offing for the consumers. “We are in consultations with the oil marketing companies (OMCs) and other stakeholders for differential pricing of Euro-IV fuel.
Nothing has been finalised as yet,” he said.
The higher price for Euro-IV fuels was being considered to compensate oil companies for the investment they made in upgrading their refineries.“Supply of Euro-IV fuel is no problem. Companies already started supplying Euro-IV fuel in some places and from April 1 Euro-IV petrol and diesel will be sold in all the 13 cities,” he said.
However, supply of Euro-III fuel is being phased as some refineries have not upgraded in time. The Euro-IV standard specifies a maximum of 50 parts per million of sulphur in petrol and diesel. Euro-III fuel specifications call for a maximum of 350 parts per million of sulphur will be sold in the rest of the country.
