Global oil prices dropped more than 5% on Wednesday after Trump suggested the U.S. was in the “final stages” of discussions with Iran.
Brent crude fell to $105.47 a barrel, while U.S. West Texas Intermediate dropped to $98.94.
Meanwhile, India stepped up its efforts to combat volatility in the fuel sector. This development could eventually impact millions of petrol vehicle owners across the country. New fuel standards for E30 petrol – a blend containing 30 per cent ethanol and 70 per cent petrol – have now been officially notified.
What changes will you notice?
The first visible change will be clearer fuel labelling at pumps. Dispensing units will have to display tags such as “E22 Petrol” or “E30 Petrol” once higher blends enter the market. This move aims to help consumers differentiate between the available fuel options.
Currently, there is no nationwide mandate yet to switch pumps to higher blends.
How will it affect your car or mileage?
Ethanol contains less energy than petrol, which can translate into a marginal drop in mileage at higher blends.
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