The cost of Liquefied Petroleum Gas (LPG) is on the rise, with an increase of ₹50 per cylinder set to take effect tomorrow. This adjustment will impact both Ujjwala (PMUY) and non-Ujjwala consumers, as confirmed by Union Petroleum Minister Hardeep Singh Puri on Monday.
Price Changes for LPG Cylinders
Starting soon, the price for PMUY beneficiaries will climb from ₹500 to ₹550 per cylinder. Meanwhile, for other consumers, the new price will be ₹803 to ₹853. Minister Puri emphasized that the pricing of LPG will undergo a review every 15 days, reflecting fluctuations in international markets.
- PMUY beneficiaries: ₹500 → ₹550
- Other consumers: ₹803 → ₹853
Financial Implications of the Price Hike
This increase follows a challenging financial year where previous LPG pricing led to a staggering cumulative loss of ₹41,338 crore for oil marketing companies. Under the Pradhan Mantri Ujjwala Yojana (PMUY), the government aims to provide clean cooking fuel, primarily LPG, to women from Below Poverty Line (BPL) families in rural India.
Impact on Fuel Prices
Discussing the recent adjustments in excise duties on petrol and diesel, Minister Puri assured that these costs would not be transferred to consumers. This measure is intended to mitigate a ₹43,000 crore shortfall faced by oil marketing firms due to subsidized LPG prices. He stated, "Consumers can reasonably expect that petrol and diesel prices will be adjusted in line with global market trends."
In a deregulated environment, adjustments in retail prices by oil marketing companies will likely reflect these international price movements, providing some insight into future pricing strategies.
Summary
In summary, the upcoming LPG price increase underscores the ongoing adjustments within the energy sector, balancing the need for affordable fuel with financial viability for oil companies. Consumers should stay informed as prices are expected to fluctuate regularly based on global market conditions.
