Methanol blend on cards, may trim oil import bill by Rs 5,000 crore
NEW DELHI: The government is looking at introducing methanol-blended fuel pan India — a move that can potentially reduce one’s fuel bill by at least 10%, lower vehicular pollution levels by over 30%, and save the exchequer Rs 5,000 crore in annual import bill.
Road transport and highways minister Nitin Gadkari has written to petroleum minister Dharmendra Pradhan, asking him to “make all efforts” to make methanol widely available for commercial use at fuel stations, officials told ET.
Currently, vehicles in India use up to 10% ethanol-blended fuel. But the cost of ethanol production is comparatively high at Rs 42 a litre. Methonol, or methyl alcohol, is estimated to cost less than Rs 20 a litre. Indian Oil CorporationNSE 0.75 % is already making M15 blended fuel — with 15% methanol and 85% petrol — available for commercial use.
