The price of liquified petroleum gas will be increased by Rs 50 per cylinder on Tuesday, April 8, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri announced on Monday.
The hike in cooking gas rates will also be applicable for cylinders issued to beneficiaries under the Pradhan Mantri Ujjwala Yojana scheme.
Accordingly, the price of a 14.2-kg LPG cylinder for general consumers will rise to Rs 853 from Rs 803 in New Delhi. The same cylinder issued to Ujjwala Yojana beneficiaries will cost Rs 550 as compared to Rs 500 at present.
Under the Ujjwala scheme, the government provides LPG cylinders to women belonging to the below poverty line group across rural India at subsidised rates.
The LPG rates will be reviewed at every two to three weeks, Puri said.
Before the oil minister's press briefing, the government announced via an official notification that excise rates on petrol and diesel will be hiked by Rs 2 per litre.
The increase in excite rates will not affect the retail rates of petrol and diesel, as they would be accordingly adjusted by the oil marketing companies, the government clarified.
The retail selling price of petrol in New Delhi currently stands at Rs 94.77 per litre. This includes a base price of Rs 54.84, freight of Rs 0.24, excise duty of Rs 19.90, dealer commission of Rs 4.39, and VAT of Rs 15.40.
Puri, while speaking to reporters, said consumers can expect a cut in petrol and diesel prices if Brent—the global crude benchmark—stays at $60 per barrel.
Brent prices slid by nearly 4% of Monday to $63.21 a barrel, marking a four-year low, whereas the US West Texas Intermediate declined to $59.79 a barrel. This came after Saudi Arabia slashed the price of its flagship crude.
In the past week, international oil prices plunged over 11% as the reciprocal tariffs announced by the US President Donald Trump stoked recession fears and raised a cloud over global oil demand.
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