Indian government: E20 pricier than petrol amid $70 crude
The government just clarified that making E20 gasoline (that's a 20% ethanol blend) is currently pricier than regular gasoline, mainly because global crude oil prices are around $70 a barrel.
Right now, ethanol itself costs about ₹71.86 per liter, before adding GST and other fees.
If crude oil prices shoot up to $120 to $130 a barrel though, ethanol blends could actually become the cheaper option.
Petroleum minister says E20 not damaging
Even if it's costlier for now, the Ethanol Blended Petrol Programme has helped India save more than ₹1.97 lakh crore in foreign exchange and cut crude oil imports by a massive nearly 316 lakh metric tons.
It's also reduced CO2 emissions by around 952 lakh metric tons and brought in more than ₹1.66 lakh crore for farmers, so it's good news for both the planet and rural incomes!
The ministry also reassured drivers: studies show no major issues with vehicle performance on E20 fuel, and claims of engine damage are just a "misinterpretation," petroleum minister Hardeep Singh Puri said.