Petrol, diesel prices hiked again
New Delhi(PTI): Petrol and diesel prices were hiked by 80 paise a litre each on Saturday, the fourth increase in five days as oil firms passed on to consumers the spike in cost of raw material.
Petrol in Delhi will now cost Rs 98.61 per litre as against Rs 97.81 previously while diesel rates have gone up from Rs 89.07 per litre to Rs 89.87, according to a price notification of state fuel retailers.
All the four increases since the ending of a four-and-half-month long hiatus in rate revision on March 22, have been of 80 paise a litre. These increase increases are the steepest single-day rise since the daily price revision was started in June 2017.
In four increases, petrol and diesel prices have gone up by Rs 3.20 a litre.
Prices had been on a freeze since November 4 ahead of the assembly elections in states like Uttar Pradesh and Punjab -- a period during which the cost of raw material (crude oil) soared by about USD 30 per barrel.
The rate revision was expected soon after assembly elections ended on March 10 but it was put off.
Oil companies, who did not revise petrol and diesel rates for a record 137 days despite prices of crude oil (raw material for producing fuel) rising to USD 117 per barrel compared to around USD 82 in early November, are now passing on to consumers the required increase in stages.
Moody's Investors Services on Thursday stated that state-owned fuel retailers Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) together lost around USD 2.25 billion (Rs 19,000 crore) in revenue for keeping petrol and diesel prices on hold during the election period.
Oil companies "will need to raise diesel prices by Rs 13.1-24.9 per litre and Rs 10.6-22.3 a litre on gasoline (petrol) at an underlying crude price of USD 100-120 per barrel," according to Kotak Institutional Equities.
CRISIL Research said a Rs 9-12 per litre increase in retail price will be required for a full pass-through of an average USD 100 per barrel crude oil and Rs 15-20 a litre hike if the average crude oil price rises to USD 110-120.
India is 85 per cent dependent on imports for meeting its oil needs and so retail rates adjust accordingly to the global movement.
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Karnataka launches drug monitoring portal for NSQ detection, NDPS misuse
Bengaluru (PTI): Karnataka Health Minister Dinesh Gundu Rao on Thursday launched a monitoring portal for the detection of NSQ drugs and the prevention of misuse of NDPS, aimed at strengthening surveillance, transparency and accountability in public health.
To effectively monitor and control the movement of such drugs, the Food Safety and Drug Administration department has developed the portal to track Not of Standard Quality (NSQ) drug batches available with stockists and retailers, officials said.
Through this system, identified NSQ batches will be automatically locked, preventing any further sale or transaction of those products. The portal also provides real-time information to the department regarding available stock, stock-in-hand details and quantities returned to suppliers, ensuring better monitoring, transparency and public safety, they said.
Addressing a press conference here, the health minister said the main objective is that whenever any medicine is found to be not of proper quality or not up to standard, action needs to be taken.
He said that earlier, when samples were collected and tested, if a medicine was found to be substandard, it would already have reached the market - distributors, retailers, pharmacies and others.
"There was no system to recall those medicines. We could only try to stop future supplies, but we had no control over medicines that had already entered the market, even if we knew they were of poor quality. As a result, such medicines could still be purchased and sold to the public," Rao said.
Officials noted that the Food Safety and Drug Administration department has recalled medicines worth Rs 1.85 crore in the year 2025-26.
"Today, we are launching this portal... Whenever any drug is newly identified as substandard, we will immediately upload that information on the portal. The portal is integrated with databases of wholesalers and stockists," the minister said.
According to him, the moment a batch is declared substandard and uploaded, messages are instantly sent to all wholesalers and retailers. Wholesalers have been linked to this system. Once the information is updated, further sale of that batch will automatically stop.
"Whether it is in warehouses, distribution chains or stockists' inventories, the stock will be frozen automatically. They will not be able to sell those medicines further," he said.
Around 15,000 stockists and wholesalers are currently part of this system, the health minister said, adding that in the next stage, "We will bring in about 45,000 retailers and pharmacists into the database. For now, at the wholesale and stockist level, this system will completely block the sale of such medicines. Those batches will have to be returned, and the companies concerned will be held responsible. The recall process will happen in real time".
"Once testing and verification are completed and the drug is proven substandard, we can instantly alert the entire state. Every stock point holding that batch will be frozen immediately. Even if someone wishes to continue selling it, they will not be able to do so. The process will stop automatically," he said.
Stressing that this is a major reform and a very positive step, Rao said, "As far as I know, no other state in the country has introduced such a system. Karnataka is introducing it today." Apart from this, the minister said the portal will also help in monitoring narcotic and psychotropic drugs regulated under the Narcotic Drugs and Psychotropic Substances (NDPS) Act.
Earlier, when pharmacies sold such medicines, they only had to maintain physical records containing the patient's name, the doctor's details and the prescription. Irregularities would come to light only during inspections conducted at pharmacies.
Under the new system, Rao said that pharmacies selling narcotic or psychotropic drugs will have to upload all details onto the portal. "This means we will have data on where and how much is being sold, who is purchasing these medicines, whether excessive quantities are being sold under one person's name, or whether a particular doctor is prescribing unusually high amounts," he said.
Rao said the data can be analysed to identify suspicious patterns or unusual sales of such medicines.
"If certain doctors are issuing too many such prescriptions, we can monitor them closely. Likewise, if any pharmacy is selling unusually high quantities of these medicines, we can inspect them and take action," he added.
