After raising cooking gas prices by Rs 125 per cylinder last month, state-owned oil firms on Wednesday announced a Rs 10 per cylinder cut in LPG rates on softening international oil prices. A 14.2-kg LPG cylinder -- both for subsidised and market price users -- will cost Rs 809 from April 1 as against Rs 819 currently, Indian Oil Corporation (IOC) said in a statement. The price cut, which traditionally is announced on the day the change is effective -- four times the rates went up in a span of one month -- was announced a day ahead of the second phase of voting in West Bengal. The politically-crucial Nandigram constituency from where state Chief Minister Mamata Banerjee is taking on her once-trusted aide Suvendu Adhikari, who is contesting on BJP ticket, is also going for polls on Thursday. "Prices of crude oil and petroleum products in the international market have been on a constant uptrend since November 2020. As India is largely import-dependent on crude oil and the prices are
Tea workers in Assam, while demanding a wage hike, said they are unable to refill their LPG cylinders as the cost has gone out of their reach
At the price of Rs 819, LPG refills beyond the reach of most PMUY beneficiaries.
Price of domestic cooking gas, LPG has doubled to Rs 819 per cylinder in the last seven years
Domestic cylinder price hiked by Rs 125 in less than 30 days
The free LPG connection scheme is one structural reform of the Modi government that has been internationally acclaimed for ridding indoor household pollution and improving women's health.
The hike also applies to Ujjwala scheme beneficiaries
Non-subsidised LPG price was increased to Rs 694 per 14.2-kg cylinder from Rs 644 earlier
Strong Asian demand could weigh on supplies in coming months just as Europe is likely to step up purchases of the fuel for heating in winter, an industry source in Singapore said
Simultaneously, non-subsidised cooking gas LPG rates were increased by Re 1 to Rs 594 per 14.2-kg cylinder in the national capital
The price of ATF in the national capital has been raised by Rs 11,030.62 to Rs 33,575.37 per kilolitre
This comes at a time when a large number of businesses are expected to resume work in the coming week.
Assuming that each of these 68 million cylinders has gone against one connection, the lockdown relief from the government could not reach 12.3 million families with Ujjwala connections
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This is a third straight monthly reduction in the price of LPG cylinders and comes on the back of falling international rates
The plummeting demand for energy across the board is causing a major headache for the sector will be how to balance its limited storage capacity
IndianOil sells about 300,000 cylinders every day and has a refining capacity of about 81 million tonnes
Analysts say the subsidy burden on both LPG and kerosene is likely to be around Rs 35,000 crore
The government gives subsidy for 12 refills of 14 kg cylinder to those to those with annual income of more than Rs 10 lakh.
It also said domestic consumers have been largely insulated from the hike by way of the large increase in subsidy