Cooking gas price hiked by ₹50 per cylinder

The price of cooking gas has increased by ₹50 per cylinder, according to a Monday announcement by Union Oil Minister Hardeep Singh Puri. The minister further stated that both Ujwalla and general category consumers now pay higher gas prices.

The 14.2-kg LPG cylinder will now cost ₹853 instead of ₹803 for regular customers and ₹553 instead of ₹503 for Ujjwala scheme users. A prior notification regarding the higher gasoline and diesel excise rate was also addressed by the Union Minister for Petroleum and Natural Gas. "Let me clarify upfront on the record, this will not be passed on to the consumer," he stated.

"Please keep in mind that our oil marketing businesses carry stocks over a 45-day period, even though the global price of crude oil dropped to about $60 per barrel. If you go back to January, the price of crude was $83, and it later dropped to $75. Accordingly, the average price of the crude inventory they have on hand is $75 a barrel," he stated.