LPG Cylinder Prices to Increase by Rs 50 from Tomorrow
New Delhi: Beginning Tuesday, the price of LPG cylinders – both under the Pradhan Mantri Ujjwala Yojana (PMUY) and for regular consumers – will be hiked by Rs.50, Union Petroleum and Natural Gas Minister Hardeep Singh Puri announced on Monday.
Under the revised rates, Ujjwala beneficiaries will pay Rs.550 per cylinder, up from Rs.500. Non-PMUY customers will see prices rise from Rs.803 to Rs.853.
“This is a step we will continue to monitor and review every 2-3 weeks,” Puri stated during a press conference
The minister also confirmed the Centre’s decision to increase excise duty on petrol and diesel by Rs.2 per litre. While the hike will not affect retail prices directly, it is aimed at offsetting earlier losses incurred by oil marketing companies (OMCs).
“The Finance Ministry has imposed a Rs.2 excise duty hike which will not be passed on to consumers. Instead, the additional revenue will support the reimbursement of LPG-related losses for OMCs,” Puri clarified.
As per a notification issued by the Department of Revenue, effective Tuesday, the excise duty on petrol will rise from Rs.19.90 to Rs.21.90 per litre and on diesel from Rs.15.80 to Rs.17.80 per litre.
Despite the increased excise duty, OMCs have assured the Petroleum Ministry that retail fuel prices will remain unchanged.
The government’s move comes against the backdrop of falling global crude oil prices, which have dropped from over USD 70 per barrel to USD 63 per barrel, thereby improving the financial margins of oil companies.
