In 2022-23, India’s LPG consumption was 28.5 million tons (MT) and production was 12.8 MT. At over 41.1 percent, LPG imports accounted for the largest share of petroleum product imports in 2022-23. Domestic
Bhubaneswar: With the Centre restricting subsidised cooking gas cylinders to six per year, the Odisha government has been contemplating to provide certain relief to BPL families having LPG connections.
New Delhi Petrol price may be cut by about Rs 1.60 per litre later this month as appreciation of rupee against the US dollar has helped state firms make profit on the fuel. Indian rupee appreciated to five-month high since the government announced allowing foreign direct investment (FDI) in multi-brand retailing. This has eased the cost of imports for oil firms, helping them make profit on sale of petrol. "Yes, there is about Rs 1.60 per litre profit on petrol since October 1. But we want this trend to stabilise before we think of cutting retail prices," a senior executive at one of the three state-owned fuel retailers said.
Global kerosene and LPG prices divergent to those of diesel, petrol and ATF In the first price revision after the government capped the number of subsidised cylinders for consumers, domestic liquefied petroleum gas (LPG) has become nearly 17 per cent dearer, thanks to firm international prices. From October 1, the consumer price of every non-subsidised domestic LPG cylinder has risen to Rs 883 from Rs 756 last month.
NEW DELHI, 28 SEPT: Ratings firm Fitch today lowered India's growth projection for the current fiscal to 6 per cent from 6.5 per cent estimated earlier citing challenging economic outlook. “India's economic
Defending the recent hike in diesel prices and the cap on subsidised LPG, Union Minister for Labour and Employment M. Mallikarjun Kharge has said the State government should offer to bear the subsidy on cooking gas. Addressing presspersons here on Sunday, he said the fuel price hike was inevitable. With 74 per cent of the fuel required for the country being imported, there was a revenue deficit of Rs. 2 lakh crore as the fuel was being sold at subsidised prices.
The transport department has not allowed conversion of vehicles to LPG, a sure way of cleaning up the city air, for the past six months. “Over the past few months, we have repeatedly sought the transport
Securing timely payment from states against sale of subsidised cylinders beyond six would be a challenge Oil marketing companies (OMCs) are wary of the populist step of states to increase the number of subsidised cylinders. Securing timely payment from states against sale of subsidised cylinders beyond six would be a challenge, the companies said. According to last week’s decision, a consumer would get only six subsidised cylinders a year, at Rs 399 in the capital, and would have to pay around Rs 750 for each additional refill. But Delhi, Haryana and Assam have announced a subsidy cover for three more cylinders.
The Delhi government gave some relief to the people living below poverty line from the Centre’s decision of curtailing number of subsidised LPG cylinder. The city government on Monday decided to provide nine subsidised LPG cylinders instead of six to the BPL people of the city. The decision was taken in a Cabinet meeting presided by Delhi chief minister Sheila Dikshit. Around 3.5 lakh beneficiaries who are under the government’s scheme of “kerosene free Delhi” can avail nine subsidised cylinders in one year. “Our government is committed to safeguarding the interests of common man. It has once again taken a significant decision to provide relief to the poor families by mitigating the effects of inflation as far as cooking gas is concerned,” Ms Dikshit told reporters here.
IOC has been pleading with the government to move petrol back to a controlled regime After two months of losses, oil marketing companies (OMCs) have started making profits on sale of petrol, thanks to the softening global price and an excise cut announced by the government last week. The OMCs have begun making a margin of around Rs 1 on every litre sold. The three — Indian Oil, Bharat Petroleum and Hindustan Petroleum — were losing around Rs 6 on every litre of petrol in the first fortnight of this month. To prevent any price increase in petrol, the government last Thursday cut the excise duty by Rs 5.30 a litre. Until then, it was charging Rs 14.78 through excise on every litre. The move almost covered the loss that the OMCs were incurring on petrol.
The Delhi Cabinet on Monday decided to provide to 3.56 lakh poor families covered under the recently-launched Kerosene-Free Dilli Scheme three more LPG cylinders per annum at subsidised rates to soften the blow of the Centre’s recent decision to limit the subsidy on domestic cooking gas to just six cylinders per year. The Delhi Government has decided to release the Rs.350 per cylinder difference between the price of a non-subsidised and subsidised cylinder in Delhi to meet this social obligation. The Government would thus be spending Rs.42 crore per annum to meet the additional cost of the three cylinders for the beneficiaries of the scheme.
