Kerala is ranked second cheapest in India, according to the Oil and Natural Gas Regulatory Authority of India.
It is one-fifth cheaper than the national average, which is the state of Tamil Nadu, which has been one of India’s most expensive states to obtain oil.
In comparison, Tamil Nadu’s average oil price was Rs.3,938 per thousand litre, compared with Rs.4,636 in Kerala, according TOI’s latest oil price report.
Oil prices have been on a volatile rise since the financial crisis of 2008.
This has led to a rise in refinery utilization and increased demand for oil, leading to the sharp increase in refinery capacity.
The state government had set up a refinery in Kollam to produce 1.4 million barrels per day (bpd) of crude oil.
The oil price has also been on the rise.
According to the Indian Oil Corporation (IOC), the country’s largest oil producer, it is expected to be over Rs.5,000 per barrel in 2021.
But this does not take into account refinery utilization.
According the IOC, the refinery will be used for oil production of 0.8 million bpd by 2019.
It has said that the refinery can be operational from 2019 to 2023, but it cannot be fully utilised until then.
Kerala has also taken up the cause of renewable energy.
The Kerala State Electricity Board has set up an initiative for the development of renewable power sources, and has proposed that it be taken up in the next financial year.
The energy board also has a renewable energy policy for the state.
Kurupuram is the second-most expensive oil-producing state in India.
Kerala has the highest refinery utilization in India at a rate of 8.7 percent.
But the refinery is not operational, according the IOC.
The government has decided to set up two plants at the Kurupurakkam refinery to be used only for refinery maintenance and maintenance of refinery and its equipment.
Kailash Energy is another state that is struggling with refinery utilization, as its refinery is being used for fuel oil.
Keralites are also one of only three states in the country that are still using coal for electricity generation.
The State Electricity Corporation of India has said the state will soon begin charging consumers for electricity from coal-based generators.
Kailash Power Corporation, the state-run utility that owns the Kurapur power station, said it will start charging its customers for electricity at the earliest, as the cost of producing electricity has risen over the past few years.
“As the electricity cost has increased, we are paying more for the electricity that we get from coal,” said V J Kumar, director general, Kailas Power Corporation.