World wide petroleum products are mainly consumed in the transport, industrial and agricultural sectors. The cost of transportation influences the economics of all other daily need commodities that reach common people. For a growth of any country, it is strongly depends on transportation and power generation. Thus for any country it has become a major challenge in facing fuel crisis. Hence there is a need to have long term plan for development of renewable energy sources. Therefore it has become impotent priority in evaluating suitable Alternate fuel as substitution in place of diesel fuel. Any alternate fuel which finds suitable as substitute to diesel is comparatively inferior to diesel in both performance and combustion characteristics. Hence there is a need to improve and optimize the fuel properties and operating parameters.