Cabinet approves ethanol price revision for petrol blending

The Cabinet on Thursday approved a new mechanism for revising the price of sugarcane-extracted ethanol used for blending in petrol. This caused a drop in its rate by ₹3 to ₹39 per litre. Ethanol's price will now be determined on the basis of sugar's prevalent price in the open market and the demand-supply situation, Oil Minister Dharmendra Pradhan said.