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The consumption of auto fuels in the country has been growing despite higher prices.
Speaking at the Global Mobility Summit 2018, Minister for Petroleum and Natural Gas Dharmendra Pradhan said, “Despite changing global trends, consumption of petrol and diesel in India is growing in excess of 5 per cent per annum. Whatever be the scenario of the growth of Electric vehicles, India would still need higher refining capacities.”
Pradhan’s comments come on the back of auto fuel prices reaching record high levels. Petrol price rose to the highest ever level of ₹ 80.38 a litre while diesel climbed to ₹ 72.51 a litre.
Commenting on natural gas based transportation solutions, Pradhan said that the use of CNG, LNG and Bio-CNG is being promoted in the sector. “There are plans in place to have about 10,000 CNG stations within a decade, covering over half of the country,” he said.
On the issue of promoting LNG as a fuel for long distance transportation by heavy commercial vehicles, Pradhan said that efforts being made by public sector oil companies and some private enterprises in setting up LNG distribution infrastructure.
He also said that 12 bio-refineries are being set up and steps are being taken to achieve 10 per cent ethanol blending. Soon, Bio-ATF and Bio-CNG policies will be formulated. IndianOil has tied up with the Delhi Government to introduce 50 Hydrogen enriched CNG buses next year, Pradhan said.
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