The Indian government has announced a ₹50 hike in the price of 14.2 kg liquefied petroleum gas (LPG) cylinders, impacting both subsidized and non-subsidized users. Union Oil Minister Hardeep Singh Puri confirmed that under the Pradhan Mantri Ujjwala Yojana (PMUY), beneficiaries will now pay ₹550 per cylinder, up from ₹500. Non-PMUY consumers will see the price rise from ₹803 to ₹853 per cylinder.
Context of the Price Adjustment
This price revision follows a recent reduction of ₹41 in commercial LPG cylinder prices, which primarily benefited businesses such as restaurants and hotels. The increase in domestic LPG prices is reportedly driven by fluctuations in international fuel rates, aimed at balancing the financial pressures on oil marketing companies.
Excise Duty Adjustments on Petrol and Diesel
In a related move, the government has also raised excise duties on petrol and diesel. The duty on petrol is now ₹13 per liter, and on diesel, ₹10 per liter. However, these increases are not expected to affect retail prices, as oil marketing companies are likely to absorb the additional costs. The new duties will come into effect on April 8, 2025.
Implications for Consumers
The hike in LPG prices is expected to strain household budgets, particularly for families that rely heavily on gas for cooking. While these adjustments are linked to global market dynamics, consumers may need to make financial adjustments in anticipation of further changes in energy pricing.
Curated by Gurdeep Singh : Source : https://news.google.com/
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