2023-12-31 02:36:42
Petrol Diesel Price Today: December 31st, 2022
After 19 months without a change in petrol and diesel prices, the latest pricing situation in Chennai has been revealed.
As the world continues to work towards operating entirely on electric power, India has also been making strides in that direction. Currently, 80% of vehicles in India run on petrol and diesel, but there are plans to transition to a fully electrified country in the near future.
The daily lives of people are greatly impacted by the price of petrol and diesel, as increases in fuel prices often lead to higher prices for daily essentials. Therefore, the public closely monitors the fuel price situation on a daily basis.
As of today, December 31st, the petrol price in Chennai is Rs. 102.63 per liter and the diesel price is Rs. 94.24 per liter, marking the 589th consecutive day without a change in prices.
The last change in petrol and diesel prices occurred on November 4th, 2021, when the central government increased the price of petrol by Rs. 5 and reduced the price of diesel by Rs.10. This brought some relief to the public, as petrol was sold at Rs. 101.40 per liter and diesel at Rs. 91.43 per liter in Chennai on that day. Prior to that, there was a 5-month period without a change in prices since May 22, 2021, when the price of petrol fell by Rs. 8 per liter and the price of diesel by Rs. 6 per liter due to a reduction in excise duty.
The National Biofuel Policy, announced by the Central Government in 2018, aims to sell 20% ethanol in petrol by 2025, five years earlier than initially planned. This policy will provide consumers with the option of using either ethanol or petrol, similar to the flex-fuel vehicles available in Brazil. The government is actively working with automobile manufacturers to achieve this target and is also addressing technical aspects related to ethanol blending.
The goal is to achieve a capacity of 1,000 crore liters for blending 20% ethanol in petrol, and the country is currently producing 450 crore liters with a tender floated for 400 crore liters. With sufficient ethanol available, the target of 20% ethanol in all petrol sold in the country is set to be achieved by 2025.
As India continues to work towards a more sustainable and energy-efficient future, the focus on alternative fuels and electric power is expected to become increasingly important in the years to come.
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