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The growing transportation sector worldwide has opened up a way forward not only for the scientists & researchers but also for the OEMs to find out the options for fuel efficient automotive vehicles with reduced emissions during their usage. The demand of automotive vehicles has been doubled in last few years and in turn the market for lubricants and transmission fluids are flourishing. Several new formulations of lubricants are getting popularized with major suppliers to achieve the end user expectations in terms of fuel economy benefits, engine life and emissions. The market trend is continuously moving towards the improvement in lubricant formulation to the lower viscosity ranges and in this direction several companies are into development of multi-grade low viscosity range of engine oils (lubricants) which is said to be providing the benefits in terms of fuel economy.