Crude Oil Rates Rise, Diesel and ATF Levies Abolished

03 Jan 2024 CW Team

In a significant move impacting the energy sector, authorities have implemented a windfall tax on petroleum, leading to a surge in crude oil rates. The decision aims to bolster revenue streams and address fiscal concerns. As a result, consumers may witness an uptick in prices across various sectors dependent on crude oil. The windfall tax, a measure applied to unexpected profits, seeks to ensure a fair distribution of revenue from the petroleum sector. This move is anticipated to contribute substantially to the government's coffers, providing fiscal relief amidst economic challenges. However, there's a contrasting development for diesel and Aviation Turbine Fuel (ATF) consumers. The levies on these essential fuels have been reduced to nil, signalling a potential reduction in prices at the pump. This strategic decision aligns with efforts to ease the financial burden on consumers and industries heavily reliant on diesel and ATF. The petroleum industry, a cornerstone of the global economy, often faces fluctuations driven by geopolitical events, supply-demand dynamics, and regulatory changes. The recent tax adjustments reflect a nuanced response to these factors, aiming to strike a balance between government revenue and consumer affordability.

Infrastructure Urban

30 May 2026

Panasonic Showcases Connected Display Solutions

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Kapsch to Deliver India’s First C-ITS Project

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Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..