LPG Price Hike: Government Increases Cylinder Rates by Rs 50, Raises Fuel Excise Duties

Starting Tuesday, LPG cylinders will cost Rs 50 more, as announced by Minister Hardeep Puri. The government also raised excise duties on petrol and diesel to compensate oil marketing companies for previous losses, though retail fuel prices will remain unchanged.

The cost of LPG cylinders is set to rise by Rs 50 starting Tuesday, as revealed by Minister Hardeep Puri during a press conference on Monday. This hike applies to both Ujjwala and non-Ujjwala cylinders, representing an increase from Rs 500 to Rs 550 for PMUY beneficiaries and from Rs 803 to Rs 853 for others.

Minister Puri assured that the new rates will undergo regular review every 2-3 weeks. The finance ministry has introduced a Rs 2 excise duty on petrol and diesel, which will not burden consumers but instead fill the government's general kitty to offset the oil marketing companies' past LPG losses.

According to the Department of Revenue's notification, excise duties on petrol will rise from Rs 19.90 to Rs 21.90 per litre, while duties on diesel will increase from Rs 15.80 to Rs 17.80 per litre, effective Tuesday. Despite the hike, oil marketing companies have confirmed that retail prices for petrol and diesel will remain stable, even as crude prices decline from over USD 70 per barrel to USD 63 per barrel.

(With inputs from agencies.)