India's imports of Russian crude oil reached a record high in June. Reports suggest India is supplying gasoline to Russia, likely through traders, to meet domestic demand exacerbated by Ukraine war-related refinery damage. Indian refiners can produce the required gasoline grades.
Petroleum Minister Hardeep Singh Puri stated that E25 (petrol with 25% ethanol) is currently only being tested and no decision has been made regarding its rollout. He emphasized that scientific studies and stakeholder consultations will precede any decision, dismissing ongoing speculation.
Union minister Hardeep Singh Puri addressed concerns about ethanol-blended fuel, calling them a "misinterpretation" and stating that automobile manufacturers report no issues with E20 petrol. Meanwhile, minister Nitin Gadkari promoted hydrogen-powered mobility, highlighting his personal use of hydrogen vehicles and upcoming hydrogen trucks and buses.
Union Minister Hardeep Singh Puri stated that reports of E20 fuel issues are a misrepresentation, with automobile manufacturers and consumers accepting the blend. The government will consider E25 fuel after tests and consultations, while E85 rollout has begun. India aims for 20% ethanol blending to cut import dependence and support farmers.
India's Oil Minister Hardeep Singh Puri dismissed social media claims that E20 ethanol-blended petrol causes engine damage or reduced mileage, calling them 'misinterpretation'. He stated that automobile manufacturers and service providers reported no issues, and E20 has been rolled out nationwide since April last year without widespread problems.
Union Minister Hardeep Singh Puri addressed social media misinformation about ethanol-blended fuel, welcoming constructive criticism but rejecting rumors about pests or engine damage. He highlighted ethanol's century-long history and past Indian government initiatives, while ARAI data shows a 2-6% drop in fuel consumption with E20 compared to E10.
India's Oil Minister Hardeep Singh Puri suggested petrol and diesel prices may decrease as cheaper crude oil arrives. He defended current prices, noting limited increases despite global volatility and government excise duty cuts, while OMCs face daily losses.
Public sector oil companies are facing daily losses of Rs 1,000 crore, potentially forcing fuel price hikes soon. Minister Hardeep Singh Puri highlighted significant under-recoveries, warning that companies cannot sustain these losses indefinitely. While elections are not the reason for the freeze, a drop in crude prices or reopening of the Strait of Hormuz could offer relief.
Union Minister Hardeep Singh Puri assured stable fuel and cooking gas supplies, stating the country holds 69 days of crude oil and LNG reserves and 45 days of LPG. Daily LPG production has been significantly increased to 54,000 tonnes amid Middle East geopolitical tensions. Puri also echoed Prime Minister Modi's call for austerity to mitigate economic pressures.
