Petrol, Diesel Price Will Increase After April 1st Due To BS-VI; This Is What You Need To Pay Extra Now
Starting April 1st, every petrol pump in India will start charging more for petrol and diesel, and the reason is the mandatory sale of BS VI fuel.
How much will be the increase?
Keep reading to find out more!
Pay More For Petrol, Diesel From April 1st
Every oil marketing company in India will start charging more for petrol and diesel, starting April 1st. Govt has made it mandatory for every oil firm to sell only BS V
Infact, some of them have already started selling BS-VI fuel from March 1st onwards.
BS-VI grade fuel has low amount of sulfur, which leads to less pollution, and every new vehicle sold in India has to be BS-VI compliant. This new BS-VI grade fuel has only 10 parts of sulfur per million, compared to 50 part per million in the BS-V and previous versions of fuel grade.
IOC (Indian Oil Corporation) chairman Sanjiv Singh has confirmed that there will be a marginal raise in the price of petrol and fuel, but didn’t reveal how much.
He said, “.. “there will definitely be a marginal increase in retail prices of the fuels from April 1 when the whole country will be run on new fuels, which will have sulphur content of only 10 parts per million (ppm) as against the present 50 ppm.”
He assured that no there won’t be any steep hike.
How Much More You Need To Pay Now?
Leading oil marketing firms have collectively spent more than Rs 35,000 crore to upgrade their facilities for making BS-VI grade fuel, and IOC alone has spent Rs 17,000 crore.
While BPCL has spent around Rs 7000 crore for upgrading their units, HPCL too has spent considerable amount, but hasn’t revealed how much.
As per oil marketing experts, consumers can be forced to pay anything between 70paisa to Rs 1.2 per litre extra, starting from April 1st, for BS-VI fuel.
But IOC Chairman stated that its very difficult to conclude with an exact amount which will be increased, since the go-to-market price of fuel is based on a complex calculation.
Meanwhile, HPCL has confirmed that they will only sell BS-VI grade fuel from March 1st.
We will keep you updated, as more details come in.