Print Edition - 2017-11-02 | Money Digest
India raises ethanol price by 5 percent
-, NEW DELHI
Nov 2, 2017-
India’s cabinet approved a 5 percent increase in the price of ethanol to ease pressure on suppliers of the fuel and cut crude imports, the government said in a statement on Wednesday. The price of ethanol was fixed at 40.85 rupees ($0.6327) per litre before tax, and would be applicable for a year starting December 1, the government said. India has been aiming to boost the use of ethanol, a cleaner fuel option as far as carbon emissions are concerned compared with gasoline. The government has made it mandatory to blend 5 percent ethanol in petrol. However, oil companies find it hard to source the sugar byproduct cheaply due to high state duty it attracts because of its use in the heavily taxed liquor industry, hindering its wide acceptance as an automotive fuel.
Published: 02-11-2017 09:24