Delhi/Hyderabad, June 11 (Maxim News): The Center hopes to reduce dependence on purchasing crude oil from abroad. For this, it is increasing the sales of ethanol-blended petrol. As part of this, the Center has reduced the excise duty on petrol with a high ethanol content. Excise duty has been removed on petrol with a higher ethanol blend than the currently widely used E20 standard ethanol.
This means that there will be no central excise tax on E22, E25, E27, E30 petrol. The Union Finance and Revenue Department has issued a notification to this effect. Petrol containing 22 percent ethanol means that 78 percent of petrol contains 22 percent ethanol. Usually, oil manufacturing companies pass the burden of excise duty on to consumers. However, now that the Centre has reduced excise duty, it does not mean that petrol prices will come down. This is because only companies are currently enjoying the benefit of this exemption. Petrol prices are not being reduced to that extent for consumers.
Moreover, petrol with high ethanol content has not been made widely available by the oil companies yet. This is because there are no vehicles in the market that can consume this much ethanol. If petrol with high ethanol content is used, other vehicles will deteriorate quickly. That is why companies are now bringing flex fuel vehicles to the market. Only Hero’s Hero Splendor Plus and Hero HF Deluxe flex fuel vehicles are available in this way. (Maxim News)
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