Page 6 - Lpg

OMCs reduce ATF prices by 1.4%; commercial LPG price falls by ₹51.50

Aviation turbine fuel (ATF) prices were cut by 1.4 per cent on Monday, while commercial LPG cylinders became cheaper by Rs 51.50, reflecting a drop in global benchmark rates. Jet fuel (ATF) price was reduced by Rs 1,308.41 per kilolitre, or 1.4 per cent, to Rs 90,713.52 per kl in the national capital -- home to one of the busiest airports in the country, according to state-owned fuel retailers. The reduction comes after two back-to-back monthly increases in prices since July 1. In all, prices were hiked by Rs 8,949.38 per kl in line with the spurt in international oil rates that followed geopolitical tensions and trade wars. This price cut will reduce the burden on commercial airlines, for whom fuel makes up for almost 40 per cent of the operating cost. No immediate comments could be obtained from the airlines on the impact of the price change. The ATF price in Mumbai was cut to Rs 84,832.83 per kl from Rs 86,077.14, while those in Chennai and Kolkata were increased to Rs 94,151.9

Cabinet approves ₹30,000 crore compensation for PSU oil marketing firms

The Cabinet approved ₹30,000 crore compensation for IOCL, BPCL and HPCL to cover domestic LPG losses, ensuring affordable supply and financial stability for PSU oil firms

UPI limits to KYC verification: Key changes in finance rules from Aug 1

SBI Card discontinues complimentary air accident insurance for some of its products and PNB requests customers to complete identity verification

THINK Gas to invest ₹10,000 cr, aims for top spot in city gas distribution

The company said its proposed merger with AG&P Pratham will be completed by the first half of 2026

Govt nears approval of ₹30,000 cr LPG relief for OMCs via excise funds

The government is set to compensate OMCs for ₹30,000 crore LPG losses through excise duty collections, easing subsidy burden without straining the expenditure budget

India aims to import about 10% of its LPG from US starting 2026: Report

India had rarely bought U.S. LPG in the past due to higher freight costs, but state retailers began buying U.S. LPG in May after China imposed retaliatory import tariffs on U.S. propane

Workers protest at IOCL's Bengal bottling plant over wage-related dispute

A wage-related dispute between LPG transporters and their drivers at Indian Oil Corporation Ltd's bottling plant at Budge Budge in West Bengal's South 24 Parganas district escalated into a protest. The agitation, which occurred on Tuesday night, temporarily disrupted production and triggered sharp political reactions. Senior BJP leader Suvendu Adhikari, who is also the leader of the opposition in the state assembly, in a post on X, alleged that the incident reflected the growing lawlessness and "syndicate culture" under the Trinamool Congress (TMC) regime. He also shared two videos showing protesters releasing LPG from cylinders, triggering panic in the area. PTI could not independently verify the authenticity of the videos. "Yesterday's protest, where enraged workers released gas from cylinders onto the streets, could have turned catastrophic. A single spark could have ignited a massive fire, potentially engulfing the entire bottling plant, the nearby Budge Budge Institute of ...

Adani Group stocks slide on reports of US probe into Iranian LPG trade

Adani Group shares came under pressure on reports of a US probe into alleged Iranian LPG imports in violation of sanctions

India's energy trade with US facing price and transport challenges

Crude oil purchases are facing hurdles, LNG imports are crashing and potential LPG purchases are falling hostage to tariff and geopolitics, according to industry sources and ship tracking data

Aegis Vopak IPO sees 26% subscription on Day 1; QIBs lead with 39%

The initial public offer of Aegis Vopak Terminals, a subsidiary of Aegis Logistics Ltd, received a 26 per cent subscription on Monday, the first day of bidding. The initial share sale received bids for 1,77,71,355 shares against 6,90,58,296 shares on offer, according to NSE data. The portion for Qualified Institutional Buyers (QIBs) fetched 39 per cent subscription while the category for Retail Individual Investors (RIIs) got subscribed 19 per cent. Non-institutional investors part received a 3 per cent subscription. Aegis Vopak Terminals has raised Rs 1,260 crore from anchor investors. The issue, with a price band of Rs 223 to Rs 235 per share, will conclude on May 28. The company is valued at around Rs 26,000 crore at the upper end of the price band. The IPO is entirely a fresh issue of equity shares worth Rs 2,800 crore with no offer-for-sale (OFS) component, according to the red herring prospectus (RHP). Proceeds worth Rs 2,016 crore will be used for payment of debt, Rs 671.

Cost of home-cooked thalis declines in April as food prices cool

Vegetarian and non-vegetarian thalis became cheaper in April due to lower prices of onion, potato and broiler, although oil and LPG costs curtailed a deeper drop

Indian refiners target cheaper US LPG imports with help from China tariffs

Advent of US LPG will enhance India's security of supply

Commercial LPG rates cut by ₹14.50, price of jet fuel cut by 4.4%

The price of commercial LPG used in hotels and restaurants was lowered by ₹14.50 per cylinder today

Saudi to invest in 2 refineries in India; strengthen crude oil, LPG supply

Both nations to collaborate on India's Strategic Petroleum Reserve, expand talks on green hydrogen

Can the oilfields amendment Bill allay concerns, attract global drillers?

India imports nearly 90% of its crude oil, half of its natural gas, and over 60% of LPG

India eyes ending import tax on US ethane and LPG in trade talks: Report

India levies import taxes of 2.5 per cent on ethane, mainly used as a feedstock for producing petrochemicals, and propane and butane

Datanomics: After deflation of 18 months, LPG may see retail inflation now

The retail price deflation in LPG (excl conveyance) was as high as over 24 per cent for each of the first five months of 2024-25

Govt hikes LPG cylinder price by Rs 50 citing rising global gas costs

Decision forced by Rs 41,338 crore losses for OMCs, will be reviewed in 2-3 weeks

LPG prices hiked by ₹50/cylinder for Ujjwala, general category customers

The price of a 14.2-kg LPG cylinder will rise from ₹803 to ₹853 for general consumers, and from ₹503 to ₹553 for Ujjwala scheme users

India to build world's longest LPG pipeline by June to cut costs, mishaps

Indian Oil, Bharat Petroleum Corp. and Hindustan Petroleum Corp. have jointly formed IHB to lay the 2,800-kilometer-long pipeline from Kandla on the west coast to the northern city of Gorakhpur