Biodiesel can be extracted from the different edible and non-edible oils available. This necessitates the selection of plant oil-based biodiesel determination targeting engine performance. The first phase of the study aims to identify an optimum fuel from a set of 28 combinations of dual biodiesel diesel blends. To identify the best dual biodiesel-diesel blend, MCDM techniques are selected. The second phase of the study is on the emulsification of the optimum fuel. Optimum fuel was directly selected from the result of the first phase. Water has been added as an additive in the range of 0-5% to prepare water in oil type emulsified biodiesel-diesel blend. The percentage of surfactant and HLB ratio was kept in a range of 0-3% and 4.3, 5 and 6. The third phase of the study is on biodiesel corrosiveness compared to Diesel; consequently, viability is now a foremost issue. Biodiesel is self-oxidative in the environment; thus, its characteristics might be changed as fuel. Therefore, investigating the behavior of the same eight biodiesels corresponding to corrosion when exposed to the surface of the metal was investigated.