Diesel sales fall in September amid rains, petrol consumption up in India
Diesel sales in India fell for the second straight month in September as rains dampened demand and slowed industrial activity in some parts of the country, preliminary data of state-owned firms showed. While diesel sales by three state-owned fuel retailers fell year-on-year in the first half of September, petrol sales were up marginally. Consumption of diesel, the most consumed fuel in the country accounting for about two-fifths of the demand, fell 5.8 per cent to 2.72 million tonnes between September 1 and 15, compared to the year-ago period. Consumption had fallen by a similar proportion in the first half of August. Month-on-month sales were up 0.9 per cent, when compared with 2.7 million tonnes of diesel consumed in the first half of August. Diesel sales typically fall in monsoon months as rains lower demand in the agriculture sector which uses the fuel for irrigation, harvesting and transportation. Also, rains slow vehicular movements. Consumption of diesel had soared 6.7 per cent and 9.3 per cent in April and May, respectively as agriculture demand picked up and cars yanked up air-conditioning to beat the summer heat. It started to taper in the second half of June after the monsoon set in. It fell in the first half of July but picked up in the second fortnight of that month. Petrol sales were up 1.2 per cent to 1.3 million tonnes in the first fortnight of September, when compared with the same period last year.
Rajasthan CM Approves Draft Of Green Hydrogen Policy
The state government has announced “Rajasthan Green Hydrogen Policy-2023”, keeping in view clean energy production, future energy needs, and climate change. Chief minister Ashok Gehlot has approved the policy draft and the notification will be issued soon by the energy department, said a government statement on Saturday. Under this policy, companies producing green energy in the state will get various types of incentives. Green hydrogen is produced by electrolysis of water using renewable energy. The main use of green hydrogen is in refinery, steel plants, and manufacture of ammonia. The state government will provide various facilities to investors under the policy. These include 50 per cent rebate in transmission and distribution charges for 10 years for 500 KTPA (kilo-tonnes per annum) renewable energy plants to be installed on the state’s transmission system. The state government has set a target of 2000 KTPA energy production by the year 2030 in the policy.
India raises windfall tax on petroleum crude to Rs 10,000/tonne
India’s government has increased the windfall tax on petroleum crude to Rs 10,000 per tonne from 6,700 rupees per tonne, according to a government notification on Friday. The increase will come into effect from Sept. 16. The government has cut the windfall tax on aviation turbine fuel to 3.50 rupees per litre from 4 rupees per litre.