New Delhi: The Central government is working out ways to slash petrol prices to relieve drivers who were facing difficulties shelling out a lot of money for the fuel. If all goes well, the government will be blending ethanol and methanol to cut down on the price.

How will it happen?

Currently, scientists have been successful in mixing 10% ethanol in petrol, but the government is planning to make it 15%.
A few months ago, the petrol prices were close to Rs 84. However, the prices have dropped and currently, it is close to Rs 70.63 (today's price in Delhi). 

However, the authorities are planning to curb it further.  

The petrol prices earlier shot up as the fuel was imported and foreign factors dictated the rates. 

The government believes that if ethanol, which is priced at Rs 42 per litre, can be successfully blended with petrol, the prices can be slashed down by Rs 10.

However, it may take some time as trials are still going in Pune.

A few years ago, the government tried to implement this plan. It made it compulsory to mix 5% of ethanol, which is made from sugarcane, with petrol. For this initiative, sugar mills were also benefitted.

The government is also planning to do the same experiment with methanol, which is derived from coal. The market price of methanol is Rs 20 per liter. It is believed that if ethanol and methanol are mixed with petrol, it will not only cut down the prices but also benefit the environment, farmers and foreign currency savings.