Indian Oil Corporation (IOC) on Friday said it is fully equipped to supply low emmission BS-VI fuels from April 1 and that would be an increase in the price of the fuels.
The biggest oil provider has spent over Rs 17,000 crore to better its processing plants to create the low-sulfur diesel and petroleum, the organization’s executive Sanjiv Singh told columnists.
Singh added, “There will be a minor increment in retail costs of the fills from April 1 when the entire nation will be run on new energizes, which will have a sulfur percent of 10 sections for every million (ppm) as against the present 50 ppm. But let me guarantee you, we won’t trouble the purchasers with a gigantic increase in the prices,” Singh said.
He stated, state-run oil marketing organizations (OMCs) have contributed Rs 35,000 crore to update their treatment facilities, of which Rs 17,000 crore have been spent by IOC alone.
This week, the auction bound BPCL said it had contributed around Rs 7,000 crore for the same. ONGC-run HPCL has not so far unveiled its preparation for BS-VI supplies.
HPCL stated that from February 26-27 it was prepared with BS-VI fuels and that it would sell the new fuel energizes from March 1.
IOC changed to BS-VI fuel production few nights ago and every one of its terminals and compartments are prepared now, Singh said.