Representational file image.
| Photo Credit: E. LAKSHMI NARAYANAN

In a move that is set to impact businesses and consumers, oil marketing companies (OMCs) have announced an increase in the prices of commercial LPG gas cylinders. Effective from November 1, the retail price of the 19 Kg commercial LPG gas cylinder in Delhi will see a hike of ₹101, bringing the new rate to ₹1,833 per cylinder, according to official sources.

This price revision follows a previous increase that occurred on October 1, when public sector OMCs raised the price of 19 KG commercial LPG gas cylinders by ₹209. As a result of this adjustment, the updated price in Delhi stands at ₹1,731.50, compared to the previous month’s rate of ₹1,522.50.

Similar increases were observed in other major cities, with Kolkata witnessing a hike to ₹1,839.50, Mumbai to ₹ 1,684.00, and Chennai to ₹1,898.00 for a 19 Kg commercial LPG cylinder. The rise in prices has left business owners, particularly shopkeepers and restaurateurs deeply concerned. Shopkeepers are now urging the government to take measures to control inflation and ease the financial burden on small businesses.

Monthly revisions for both commercial and domestic LPG (liquefied petroleum gas) cylinders occur on the first day of each month, in line with government regulations and market dynamics. In August, OMCs had taken the opposite approach, slashing the prices of commercial LPG cylinders by ₹99.75, offering some relief to businesses and consumers. The increase in commercial LPG gas cylinder prices comes as a challenge for businesses already grappling with inflation, and it emphasizes the need for policy actions to stabilize prices and support small enterprises during these trying times.

Petrol sales dropped to 1.17 million tonnes during the first half of October from 1.29 million tonnes a year earlier.
| Photo Credit: Manvender Vashist

Petrol and diesel sales fell in the first half of October ahead of the start of the festival season that is expected to boost consumption, preliminary data of state-owned firms showed.

Last year, Durga Puja/Dussehra as well as Diwali fell in October. This year the festival season, when consumption picks up, starts in the second half of October.

Petrol sales by three state-owned fuel retailers fell 9% year-on-year, the first drop in two months. Diesel consumption dropped 3.2%.

The decline was largely because of the larger base of last year.

Petrol sales dropped to 1.17 million tonnes during the first half of October from 1.29 million tonnes a year earlier.

Sales dropped 9% month-on-month as well.

Consumption of diesel, the most consumed fuel in the country — accounting for about two-fifths of the demand, dropped to 2.99 million tonnes during October 1 to 15 from 3.09 million tonnes a year back. Month-on-month sales were, however, up 9.6% compared with 2.73 million tonnes in the first half of September.

Diesel sales typically fall in monsoon months as rains lower demand in the agriculture sector which uses the fuel for irrigation, harvesting and transportation. Also, rains slow vehicular movements. This had led to a fall in diesel consumption in the last three months. Since the end of the monsoon, consumption has risen month-on-month.

Consumption of diesel had soared 6.7% and 9.3%in April and May, respectively, as agriculture demand picked up and cars yanked up air-conditioning to beat the summer heat. It started to taper in the second half of June after the monsoon set in. It has continued to fall since.

Suppliers’ group OPEC sees India’s oil demand expanding on average by 2,20,000 barrels per day on the back of vigorous economic growth.

Consumption of petrol during October 1-15 was 12%more than in the COVID-marred October 2021 and 21.7% more than in pre-pandemic October 2019.

Diesel consumption was up 23.4% over October 1-15 in 2021 and 23.1% compared to October 2019.

With the continuing rise in passenger traffic at airports, jet fuel (ATF) demand rose 5.7% to 2,95,200 tonnes during first fortnight of October against the same period last year.

It was 36.5% more than in October 1-15, 2021, but 6.6% lower than pre-COVID October 2019.

Month-on-month jet fuel sales were almost 2% lower compared to 3,00,900 tonnes in September 1-15, 2023.

Cooking gas LPG sales were up 1.2% year-on-year at 1.25 million tonnes in the first half of October. LPG consumption was 10.6% higher than in October 1-15, 2021 and 153% more than in pre-COVID October 2019.

Month-on-month, LPG demand fell 7.5% against 1.36 million tonnes of LPG consumption during September 1-15, the data showed.

The central government on Tuesday slashed the price of a domestic LPG cylinder by ₹ 200. The union government has been facing criticism over rising inflation and its impact on households. 

Notably, the reduction in prices of the LPG cylinder has come ahead of the Assembly elections in five States and the Lok Sabha election scheduled in 2024.

Anurag Thakur, Minister for Information & Broadcasting,  said, “On the occasion of Raksha Bandhan and Onam, Prime Minister Narendra Modi has decided to reduce the price of domestic cylinders by ₹200. When we came in 2014, only 14.4 crore people had a cooking cylinder. Today, that figure has gone up to 33 crores, out of which 9 crore 60 lakh people have received Ujjwala gas cylinders. People availing Ujjwala gas yojna already get ₹ 200 subsidy…This is a gift from Prime Minister Narendra Modi to the women of the country.”

मोदी सरकार का तोहफा!

200 रुपए सस्ता हुआ रसोई गैस सिलेंडर। pic.twitter.com/QcPwF9FLng

— BJP (@BJP4India) August 29, 2023

How much will a cylinder cost now?

Mr Thakur, in its official release, stated that the reduced prices will be effective from August 30. “The price of a 14.2 Kg LPG cylinder will be reduced by ₹ 200 in all markets across the country. In Delhi for instance, the decision will bring down the cost of a 14.2 Kg cylinder from the existing ₹ 1,103 per cylinder to a more affordable Rs 903 per cylinder,” read the official statement. 

The reduction in prices of LPG cylinders also applies to beneficiaries under the Pradhan Mantri Ujjwala Yojana (PMUY). The price for PMUY beneficiaries will be ₹ 703. Earlier this year, in March, the Centre had extended a subsidy of ₹ 200 per LPG cylinder under the scheme. 

Earlier the price of a 14.2 Kg LPG cylinder in Kolkata was ₹ 1,129. Now, the rate has dropped to ₹ 929. In Mumbai, the LPG cylinder price has been reduced from ₹ 1,102.50 to ₹ 902.50. On the other hand, in Chennai, these cylinders are being sold for ₹ 918.50. Earlier the price of an LPG cylinder in Chennai was ₹ 1,118.50. 

Petroleum and Natural Gas Minister, Hardeep Singh Puri said that the move is aimed at providing direct relief to families, while also supporting the central government’s larger goal of providing essential items at affordable prices. 

He said, “We understand the challenges faced by households in managing their budgets. The reduction in cooking gas prices is aimed at providing direct relief to families and individuals, while also supporting the Government’s larger goal of ensuring affordable access to essential items.”

New Delhi:

In a major relief to LPG consumers, Public sector Oil Marketing Companies (OMCs) have slashed the price of 19 KG commercial LPG gas cylinders by Rs 158, according to the sources. 

The new prices will be effective from today and Delhi’s retail sales price of 19kg commercial LPG cylinder will be Rs 1,522. 

Earlier, on the eve of Raksha Bandhan, the price of Domestic LPG was reduced by Rs 200 by the central government as a gift to women of the country. 

Monthly revisions for both commercial and domestic LPG (liquefied petroleum gas) cylinders occur on the first day of each month, with the new rates becoming effective from September 1.

Earlier in August, the prices of commercial LPG cylinders were slashed by Rs 99.75 by the OMCs. 

In July, the prices of commercial LPG gas cylinders were increased by Rs 7 each.

Before this hike, there had been two consecutive price cuts for commercial LPG cylinders which were in May and June this year. While in May OMCs reduced the price of a commercial LPG cylinder by Rs 172, in June it was reduced by Rs 83.

In April, too, their prices were reduced by Rs 91.50 per unit.

Petroleum and oil marketing companies had on March 1 this year hiked the prices of commercial LPG cylinders by Rs 350.50 per unit and domestic LPG cylinders by Rs 50 per unit.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

Image used for representational purpose.
| Photo Credit: Thulasi Kakkat

The government has exempted imports of LPG, liquified propane and liquified butane from 15% agri cess with effect from September 1.

The government had in July imposed a 15% agri cess on imports of these goods.

Also read | Centre slashes LPG prices by ₹200 ahead of poll season

The Finance Ministry in a notification said that imports of LPG, liquified propane and liquified butane have been fully exempted from Agriculture Infrastructure Development cess (AIDC) effective September 1.

New Delhi:

The government has exempted imports of LPG, liquified propane and liquified butane from 15 per cent agri cess with effect from Friday.

The government had in July imposed a 15 per cent agri cess on imports of these goods.

The Finance Ministry in a notification said that imports of LPG, liquified propane and liquified butane have been fully exempted from Agriculture Infrastructure Development cess (AIDC) effective September 1.