Centre hikes LPG cylinders price by Rs 50, effective Tuesday

Guwahati: Union Oil Minister Hardeep Singh Puri announced on Monday that the Central government will hike the price of cooking gas or LPG cylinders for both Ujjwala and non-Ujjwala schemes up to Rs 50, effective Tuesday.

Addressing the Reporters at a conference in Delhi, Union Minister Hardeep Singh stated that, the price of the 14.2-kg LPG cylinder will increase from Rs 803 to Rs 853 for general users and from Rs 503 to Rs 553 per cylinder for users under the Ujjwala scheme.

He stated that the price per cylinder of LPG will increase by Rs 50. From 500, it will go up to 550 (for PMUY beneficiaries), and for others, it will go up from Rs 803 to Rs 853.

"The ministry will review the steps as we go along. We review these every 2-3 weeks. Therefore, the increase in excise duty on petrol and diesel will not result in a corresponding increase in the price that consumers pay at the pump", the Minister asserted.

Union Minister also clarified that the international price of crude oil came down to around $60 a barrel, but the oil marketing companies carry inventories over 45 days.

The crude price then was 83 dollars in January, which came down subsequently to 75 dollars. So the crude inventory that they're carrying is at $75 on average per barrel," he said.

"Oil marketing companies can legitimately moderate petrol and diesel prices in line with global prices. In a deregulated sector, they can adjust the market retail price", the Minister added.