Oil minister Hardeep Singh Puri announced that cooking gas price has been hiked by ₹50 per cylinder.
New Delhi: Union oil minister Hardeep Singh Puri on Monday announced that cooking gas price has been hiked by ₹50 per cylinder. The gas price has been increased for both Ujwalla and general category customers, the minister added.
Hardeep Singh Puri said, “The price per cylinder of LPG will increase by ₹50. From 500, it will go up to 550 (for PMUY beneficiaries) and for others it will go up from ₹803 to ₹853.”
He added, “This is a step which we will review as we go along. We review these every 2-3 weeks. Therefore, the excise duty that you have seen increase is not to go on to the consumer on petrol and diesel…”
The Union Minister for Petroleum and Natural Gas also addressed a previous notification about the increased excise rate for petrol and diesel. “Let me clarify upfront on the record, this will not be passed on to the consumer,” he said.
“The international price of crude oil came down to around $60 a barrel, but please remember that our oil marketing companies carry inventories over 45 days. If you go back to January, the crude price then was $83, which came down subsequently to $75. So the crude inventory that they’re carrying is at $75 on average per barrel,” he said.
“You can legitimately expect prices of petrol and diesel to be moderated by the oil marketing companies in keeping with the global price. In a deregulated sector, you can expect them to adjust the market retail price,” he added.
Rise in excise duty for petrol and diesel
The union government on Monday also raised excise duty by ₹2 per litre for both petrol and diesel.
The notification stated that the revised excise duty would come into effect on April 8, 2025. The excise duty on petrol was increased to ₹13 per litre and that on diesel to ₹10, as per the order.
The Ministry of Petroleum and Natural Gas, however, informed the masses that the retail prices of petrol and diesel would remain the same.
“PSU Oil Marketing Companies have informed that there will be no increase in retail prices of Petrol and Diesel, subsequent to the increase affected in Excise Duty Rates today,” it wrote on X.
