State-run fuel companies reduce commercial LPG prices

Image taken from Google.com

State-run fuel companies reduce commercial LPG prices

New Delhi: On Monday, state-run fuel dealers reduced the cost of commercial LPG refills by ₹30.50 for non-subsidised cylinders weighing 19 kg. Shortly before the Lok Sabha vote dates were published, the government had cut the price of cooking LPG by ₹100 each 14.2-kg cylinder, helping 320 million families.

According to Indian Oil Corporation's (IOC) most recent pricing statistics, a 19-kg commercial gas cylinder that isn't subsidised and is used in hotels, restaurants, and industrial settings will now cost ₹1,764.50 in Delhi, ₹1,879 in Kolkata, ₹1,717.50 in Mumbai, and ₹1,930 in Chennai. Fuel prices change from location to location due to variations in municipal taxes.

The price of family cooking gas cylinders, which weigh 14.2 kg and are subsidized, stayed the same, but the global decline in fuel prices will lessen the amount that the government must provide in subsidies. Following the announcement of a price reduction on March 8, 14.2-kg LPG cylinders with subsidies are available for purchase in New Delhi for ₹803 for ordinary consumers and ₹503 for 102.7 million impoverished households that are part of the Pradhan Mantri Ujjwala Yojana (PMUY).

In honor of International Women's Day, Prime Minister Narendra Modi stated last month on March 8 that the price of cooking gas would be reduced for all customers by ₹100 per 14.2 kilogram cylinder. Our government has decided to lower the price of LPG cylinders by ₹100 on Women's Day. That day, he tweeted, "This will greatly ease the financial burden on millions of households across the country, especially benefiting our Nari Shakti."

The Prime Minister's declaration was made the day after the Union Cabinet approved ₹12,000 crore for PMUY recipients, extending the ₹300 discount on each refill of cooking gas for an additional year, until March 31, 2025. The assistance program for low-income households would have ended on Sunday, March 31, unless an extension had been granted.

PMUY recipients receive complimentary gas hookups in addition to discounted cylinders. The Modi government started the programme in May 2016 to provide rural and underprivileged poor people with access to LPG, a clean cooking fuel. It gives adult women from low-income homes connections to cooking gas without requiring a deposit.

More than 60% of India's domestic LPG consumption is imported. The cost of commercial LPG in the nation is determined by its value on the global market.