Print Edition - 2017-03-30 | MONEY
Euro IV standard fuel to be sold from Sat
Mar 30, 2017-
Nepali motorists will be filling their tanks with Euro IV standard gasoline from Saturday as Indian Oil Corporation (IOC) has agreed to supply the higher quality fuel to Nepal Oil Corporation (NOC), said Sitaram Pokharel, spokesperson for the state-owned oil monopoly.
“We will be importing Euro IV gasoline as IOC will be distributing it in the Indian market,” he said. The gasoline NOC has been importing currently is of Euro III standard.
NOC said that using a mix of Euro IV standard fuel and the currently available product will not harm the vehicle engine. Pokharel said that NOC would be mixing initial shipments of Euro IV gasoline with the stock in its depots.
IOC is the sole supplier of fuel to Nepal. Following the signing of a new oil supply agreement on Monday, IOC will be supplying Euro IV standard gasoline to Nepal. The pact is renewed every five years. According to Supplies Ministry officials, IOC has agreed to provide fuel as per NOC’s demand.
Likewise, Nepal will be allowed to import crude oil and have it processed at IOC’s refineries, a joint committee will be formed to monitor the quality and quantity of the fuel, IOC’s markup will not exceed 2 percent and IOC will provide technical support to NOC to construct storage plants in Nepal, as per the latest memorandum of understanding.
Euro IV standard fuel is more environment-friendly and less polluting. Its sulphur content is only 50 ppm compared to 350 ppm for Euro III standard fuel. The gasoline will increase the efficiency of automobiles and vehicles, resulting in higher mileage.
Nepal received a batch of 1,300 kilolitres of the high-grade fuel from China during the blockade imposed by India.
According to NOC, the normal daily requirement of petrol and diesel in the domestic market is around 1,100 kilolitres and 2,700 kilolitres respectively. Using Euro IV standard gasoline is expected to control air pollution significantly.
Customers will not be charged more and Euro IV standard gasoline will be sold at current prices, NOC said. Pokharel said IOC had assured NOC that prices would not be raised. “However, prices can fluctuate as per international market trends,” he added.
Published: 30-03-2017 09:49