BENGALURU: Petroleum dealers across Karnataka have decided to observe a 'no-purchase' day on May 31 demanding compensation from the Union government for losses incurred by them due to the reduction in excise duty. Though dealers said fuel outlets will function as usual, the probability of 'no stock' boards going up cannot be ruled out.
According to the Akhila Karnataka Federation of Petroleum Traders, many dealers who had purchased motor fuels before the tax revision have incurred heavy losses. "We will not purchase stocks from oil companies on May 31 as part of our nationwide protest. However, our outlets will continue to function on that day and sell fuel to customers," said federation vice-president A Tharanath.
