Oil cos switch to BS-VI fuel without raising prices

India has switched over to the world’s cleanest petrol and diesel without raising prices, Indian Oil Corp (IOC), the nation’s largest oil firm, said on Thursday. Leapfrogging from BS-IV grade fuel straight to BS-VI grade, equivalent to Euro-VI fuel, petrol and diesel would have resulted in an up to Re 1 per litre increase in cost but oil companies decided against passing this on to consumers and instead adjusted it against the reduction warranted from international oil prices plummeting to a 17-year low.

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