Page 5 - Lpg

Hindustan Petroleum posts consolidated net loss of Rs 2,172 crore in Q2

The company blamed depressed marketing margins on motor fuels and LPG as the main reason for its profitability being impacted over the latest quarter

One in every 10 petrol pumps in India now offering CNG, EV charging

India has about 84,600 fuel retail outlets, of which 8,900 offer alternative fuels such as CNG, auto LPG or EV charging facilities

Gujarat govt to give two cylinders free to Ujjwala beneficiaries

The state govt has also announced 10% value added tax reduction on compressed natural gas and piped natural gas

Top headlines: India's CPI inflation rises to 7.4%; Wipro Q2 net falls 9%

Business Standard brings you top news of the evening

Govt to give Rs 22,000-cr one-time grant to oil PSUs to cover LPG losses

The government will extend a one-time grant of Rs 22,000 crore to three state-owned fuel retailers to cover for the losses they incurred on selling domestic cooking gas LPG below cost in the last two years, I&B Minister Anurag Thakur said on Wednesday. The Union Cabinet headed by Prime Minister Narendra Modi at a meeting on Wednesday, approved the one-time grant to three oil marketing companies - Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL), Thakur told a news briefing. The grant will be for covering the losses they incurred on selling LPG below cost to consumers from June 2020 to June 2022. The three firms sell domestic LPG at government-regulated prices to consumers. Between June 2020 to June 2022, the international prices of LPG soared by around 300 per cent. However, to insulate consumers from fluctuations in international LPG prices, the cost increase was not fully passed on to consumers of domestic LPG,

Deflating gas economy: Kirit Parikh has a tough task on hand as prices soar

As global prices soar, another committee to review gas pricing policies may find the going more challenging

Govt allows retrofitment of CNG and LPG kits in BS-VI compliant vehicles

The government has allowed retrofitment of CNG and LPG kits in petrol and diesel vehicles that are compliant with BS-VI emission norm. As of now, such modifications are permissible only in vehicles that are compliant with BS-IV emission norm. "This ministry... has notified retrofitment of CNG and LPG kit on BS (Bharat Stage)-VI gasoline vehicles and replacement of diesel engines with CNG/LPG engines in case of BS-VI vehicles, less than 3.5 tonnes," the Ministry of Road Transport and Highways (MoRTH) said in a notification. The notification lays down the type approval requirements for retrofitment. CNG is an environment-friendly fuel and will reduce the emission levels of carbon monoxide, hydrocarbon, particulate matter and smoke as compared to petrol and diesel engines, the ministry said, adding that the notification has been formulated in consultation with stakeholders.

Explained: Can Droupadi Murmu help bridge Mayurbhanj's development gap?

Education, healthcare, access to basic facilities are lower than national average

India's petrol, diesel sales jump in first fortnight of June

Diesel, the most-used fuel in the country, saw sales jumping 47.8 per cent year-on-year to 3.4 million tonnes between June 1-14.

India's fuel demand up 22% YoY in May from low base in 2021: S&P Global

India's oil product demand in May was up 860,000 barrels per day or 22 per cent year-on-year from a low base in 2021, S&P Global Commodity Insights said in a note.

Remarks on Prophet threaten to fray India's energy ties with Islamic world

West Asia is also India's biggest supplier of LPG, the fuel that is used in kitchens. India imported 48 million tonnes, or 58 per cent of the fuel used in the last three fiscals

Protests intensify in Sri Lanka amid acute shortage of LPG cylinders

Amidst the ongoing economic catastrophe in Sri Lanka, the inaccessibility to LPG cylinders for over a month has resulted in locals' protest outside Slave Island PS in Colombo on Saturday.

Domestic LPG cylinder price hiked by Rs 50 from today; to cost Rs 999.50

With the new revision, the cooking gas cylinder will now retail at Rs 999.50 in Delhi.

Italy lowers fuel taxes to help tackle surging prices due to Ukraine war

A statement from the office of PM Mario Draghi read, excise taxes on gasoline, diesel fuel, liquified petroleum gas, and all forms of natural gas will be lowered starting Tuesday, until atleast July 8

Commercial LPG price hiked for 3rd month straight by Rs 102.50/cylinder

The price of 19-kg commercial LPG cylinder was on Sunday hiked by Rs 102.50, the third straight monthly increase. With this, the 19-kg commercial cooking gas cylinder will now cost Rs 2,355.50, according to a price notification of state-owned fuel retailers. The commercial LPG price was increased by Rs 105 on March 1 and by Rs 250 on April 1. However, there has been no change in the prices of domestic gas cylinders. In March, the price of domestic cooking gas (LPG) was hiked by Rs 50 per cylinder. A 14.2-kg LPG cylinder is costing Rs 949.50 in Delhi from March 22 onwards.

Commercial LPG price increases by Rs 250; will cost Rs 2,253 from today

This is the second hike in a month. With this, the 19 kg commercial cooking gas will now cost Rs 2,253. The commercial LPG was increased by Rs 105 on March 1.

Aramco unit attack in Saudi Arabia's Jeddah may raise crude, LPG prices

Petrol price on Sunday was hiked by 50 paise a litre and diesel by 55 paise, taking the total increase in rates since resumption of daily price revision less than a week back to Rs 3.70-3.75 per litre

India's oil demand likely to jump 8% to 5.15 mn barrels per day in 2022

India's oil demand rose from 4.51 million barrels per day in 2020 to 4.76 million bpd in 2021, recording a 5.61 per cent growth

India's February fuel demand rises, but soaring crude may slow uptick

While India has been on a recovery path until now, high oil prices at present could lead to some demand destruction, says an analyst

IOC to ramp up LPG output in Northeast by 53% to 80 mn cylinders by 2030

PSU major Indian Oil Corp is planning three new plants in the Northeast to increase its LPG bottling capacity by nearly 53 per cent to eight crore cylinders annually by 2030