The Hindu Business Line : `Euro III norms will be met by deadline'

THE petroleum industry will meet the April 1 deadline for supply of Euro III quality petrol and diesel in 11 designated cities of the country, according to Mr M.S. Srinivasan, Additional Secretary, Ministry of Petroleum and Natural Gas.

However, there may be a postponement of the deadline for Bharat Stage II norms for diesel alone to October 1. "There will be 100 per cent compliance in supply of Euro III petrol and diesel in 11 cities by the deadline. As for Bharat Stage II norms in the rest of the country, there will be 100 per cent compliance for petrol, while for diesel there will be 70 per cent compliance," Mr Srinivasan said.

Barring five States, that include parts of Uttar Pradesh and Rajasthan, the rest of the country will move to Bharat Stage II diesel by April 1.

For these States alone the deadline has been pushed to October 1. The country will import 6,00,000 tonnes of petrol and diesel of Euro II quality up to September to meet the deadline. There will be no imports of Euro III quality fuel as it will be met out of domestic production.

Asked about the possibility of an increase in retail prices of petrol and diesel Mr Srinivasan said that the Cabinet will meet next week to decide on the issue. Any price revision will be based on four factors — the continued rise in international oil prices, the impact of the recent Budget, the highway cess imposed in the Budget and the investments made by the oil companies to produce Euro III and Euro II fuels.

He pointed out that the price of the Indian crude oil basket when retail prices were last adjusted in November was $39.5 per barrel. Compared to that the price of the Indian basket now is $50 per barrel.

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