Mumbai: Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, announced on Monday that the price of cooking gas will rise by ₹50 per cylinder. The increase affects both general and Ujjwala scheme customers.
The price for a 14.2-kg LPG cylinder will increase from ₹803 to ₹853 for general consumers, while users under the Ujjwala scheme will see their price go up from ₹503 to ₹553 per cylinder.
Hardeep Singh Puri explained that the hike is part of a regular review process, adding that such adjustments are made every 2-3 weeks. He further clarified that the increase in excise duty would not be passed on to consumers in the case of petrol and diesel prices.
The minister also addressed concerns about the recent rise in the excise rate for petrol and diesel, assuring that it would not result in higher prices for consumers.
Puri explained that although the international price of crude oil had dropped to around $60 a barrel, Indian oil marketing companies carry inventories that are priced at an average of $75 per barrel. This, he noted, is due to crude oil prices being at $83 in January before falling to $75.
Despite the rise in cooking gas prices, Puri assured that prices for petrol and diesel would likely be adjusted downwards in line with the global price trends. He emphasized that in a deregulated sector, oil marketing companies will continue to monitor global prices and adjust retail prices accordingly.
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