Domestic cooking gas prices raised
Premium- This comes at a time when domestic prices of transportation fuel are hovering at record highs. Diesel and petrol prices have topped the Rs100 per litre mark in several parts of India.
NEW DELHI: State-run fuel retailers have raised domestic cooking gas prices. Effective 1 July, the price of a 14.2 kg non-subsidised Indane cylinder of liquefied petroleum gas (LPG) in Delhi has been increased by ₹25.50 to ₹834.50.
This price hike comes after stable LPG gas cylinder prices for the consecutive months of April, May and June.
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Fuel retailers revise prices of LPG cylinders, based on the international benchmark rate of LPG and the dollar and rupee exchange rate. The finance ministry has also slashed the allocation for petroleum subsidy by two-thirds to ₹12,995 crore for FY22.
This also comes at a time when domestic prices of transportation fuel are hovering at record highs. Diesel and petrol prices have topped the Rs100 per litre mark in several parts of India.
India had 28.74 crore LPG consumers as on 1 January 2021, with the Pradhan Mantri Ujjwala Yojana, a government programme that aims to provide free cooking gas connections to poor families, increasing LPG coverage to 99.5% on 1 January this year from 61.9 % as on 1 April 2016.
India has kept domestic natural gas prices unchanged at $1.79 per million British thermal units (mmBtu) for the first six months of the current financial year, under a domestic gas price regime that was introduced in 2014. Also, the ceiling for gas prices from difficult fields such as deep water, ultra-deep water and high pressure-high temperature areas for April-September was reduced to $3.62 per mmBtu from the earlier of $4.06 per mmBtu.
The bi-annual price revision exercise fixes rates at which domestic natural gas is supplied by explorers such as Oil and Natural Gas Corp. Ltd (ONGC) and Oil India Ltd (OIL), with the new price applicable from 1 April till 30 September.
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