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The ban on supply of fuel to old vehicles kicked off in Delhi on Tuesday amid high security. The Delhi government has installed Automatic Number Plate reader cameras (ANPR) at nearly 350 petrol pumps across the national capital for detection of such vehicles. The transport department has chalked out a detailed deployment plan involving personnel from its organisation, Delhi Police, Traffic Police and the Municipal Corporation of Delhi (MCD). Multiple teams of transport department, traffic police and local police have been deployed at different petrol pumps in South Delhi. The drive began from 6 am on Tuesday, enforcing the prohibition of fuel sale to petrol vehicles older than 15 years and diesel vehicles older than 10 years. At Chirag Delhi's Dhingra petrol pump, the Transport Enforcement and Delhi Traffic Police teams were seen stationed since early morning. "We are here from 6 am to ensure that no old vehicle is allowed to refuel. Petrol pumps have been directed to deny fuel t
After reporting record profits, state-owned fuel retailers Indian Oil Corporation (IOC), BPCL and HPCL posted up to 90 per cent slump in their June quarter earnings as margins fell and they booked under-recovery on the sale of domestic cooking gas LPG at government-controlled rates. IOC, the nation's largest oil firm, reported 81 per cent drop in standalone net profit in April-June - the first quarter of current 2024-25 fiscal year - to Rs 2,643.18 crore as opposed to a profit of Rs 13,750.44 crore a year back, according to a company filing. Net profit also declined sequentially, when compared to an earning of Rs 11,570.82 crore in March quarter. Hindustan Petroleum Corporation Ltd (HPCL) posted 90 per cent drop in profit to Rs 633.94 crore as compared to an earning of Rs 6,765.50 crore in April-June 2023 and Rs 2,709.31 crore in the preceding March quarter. Bharat Petroleum Corporation Ltd (BPCL) net profit dropped to Rs 2,841.55 crore in April-June from Rs 10,644.30 crore a year .
Karnataka government on Saturday hiked sales tax on fuel which will make petrol and diesel costlier. According to official sources, petrol will now go up by Rs 3 and diesel by Rs 3.5 per litre. In a notification issued by the Finance Department, the government has hiked sales tax on petrol by 3.92 percentage points, from 25.92 to 29.84 per cent. On diesel, the hike is 4.1 percentage points, from 14.34 to 18.44 per cent. This notification shall come into force with immediate effect, it said. The decision comes days after the Lok Sabha poll results, in which NDA got 19 out of 28 seats in Karnataka, with BJP winning 17 and JD(S) with 2. The ruling Congress in the state has won nine seats. The move, aimed at resource mobilisation, comes after Chief Minister Siddaramaiah, who is also the finance minister, reviewed the state's revenue generation and fiscal position. During the meeting, the CM asked officials to work harder towards meeting revenue collection targets.
Petrol and diesel sales in India jumped in September as economic activity picked up with the nearing festival season and the ending of the monsoon raised the demand, preliminary industry data showed. Petrol sales soared 13.2 per cent to 2.65 million tonnes in September when compared to 2.34 million tonnes of consumption in the same month last year. Sales were 20.7 per cent higher than Covid-marred September 2020 and 23.3 per cent more than pre-pandemic September 2019. Demand was, however, 1.9 per cent lower than the previous month of August 2022. Diesel, the most used fuel in the country, posted a handsome 22.6 per cent rise in sales in September to 5.99 million tonnes when compared to the same month last year. Consumption was up 23.7 per cent over September 2020 and nearly 15 per cent higher than pre-Covid 2019. The fuel, which had seen a near 5 per cent drop in sales in August when compared to the previous month of July, saw demand rise 1.3 per cent month-on-month. Industry sour