Page 2 - Lpg Prices

Govt to give Rs 22,000-cr one-time grant to oil PSUs to cover LPG losses

The government will extend a one-time grant of Rs 22,000 crore to three state-owned fuel retailers to cover for the losses they incurred on selling domestic cooking gas LPG below cost in the last two years, I&B Minister Anurag Thakur said on Wednesday. The Union Cabinet headed by Prime Minister Narendra Modi at a meeting on Wednesday, approved the one-time grant to three oil marketing companies - Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL), Thakur told a news briefing. The grant will be for covering the losses they incurred on selling LPG below cost to consumers from June 2020 to June 2022. The three firms sell domestic LPG at government-regulated prices to consumers. Between June 2020 to June 2022, the international prices of LPG soared by around 300 per cent. However, to insulate consumers from fluctuations in international LPG prices, the cost increase was not fully passed on to consumers of domestic LPG,

ONGC, Oil India to gain most from gas price hike; IGL worst hit: Analysts

Analysts at Antique stock Broking said every $1/mmbtu rise in gas prices is expected to lift ONGC, and Oil India's standalone Ebitda by 4 per cent, and 7 per cent, respectively

Loss on petrol ends; continue to incur loss on diesel sales: BPCL chairman

A moderation in international oil prices has helped Indian fuel retailers to break even on petrol and domestic cooking gas LPG but they continue to lose money on diesel, the most used fuel in the country, an official said on Monday. State-owned fuel retailers Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) did not raise petrol and diesel prices for almost five months now despite rising international oil prices. This is because international oil prices were highly volatile, rising or falling by USD 5-7 per barrel on a single day, BPCL chairman and managing director Arun Kumar Singh told reporters. "Our ability to pass on this kind of volatility is simply not there. No marketer can transfer this kind of volatility," he said, adding, "It is our deep desire to absorb volatility. We don't pass on sharp increase or fall in prices." And so the oil companies decided to absorb "some losses with hope that we can make up for

'Smokeless' LPG bringing tears to eyes as prices rise 30% in one year

LPG rates this week were hiked by Rs 50 per 14.2-kg cylinder, taking the total increase in last one year to Rs 244 or 30 per cent.

Centre may allocate Rs 44,000 cr to oil firms to compensate for LPG losses

The central government is planning to allocate Rs 44,000 crore as compensation to oil companies for losses they have been bearing by selling LPG at below-market rates, a report said

Domestic LPG cylinder rate increased by Rs 50 from today; check prices

A domestic LPG cylinder will now cost Rs 1,053 in the national capital Delhi. In Mumbai, it will cost Rs 1,052.50

Commercial LPG cylinders to become cheaper from today; check details here

The commercial LPG cylinder price, as of July 1, in the national capital Delhi is Rs 2,021, brought down from Rs 2,219 per cylinder

Domestic LPG cylinder price hiked by Rs 50 from today; to cost Rs 999.50

With the new revision, the cooking gas cylinder will now retail at Rs 999.50 in Delhi.

Fuel sales growth moderates in April as record high prices dent demand

India's petrol and diesel sales growth moderated in April while cooking gas LPG consumption fell as record high prices dented demand, preliminary industry data showed

India's fuel sales fall in April first half after record rise in prices

Petrol sales fell almost 10 per cent in the first half of April when compared with the same period in the preceding month, while diesel demand slid 15.6 per cent

Deflating outlook: Households must prepare for hefty rise in LPG prices

Urban households will shortly feel the pinch of rising prices

Diversion of domestic LPG cylinders for commercial use on the rise

Sources told ANI that unauthorised agents or people involved in black marketing are also involved in refilling commercial cylinders through domestic cylinders

ATF price hiked by 2.75%, commercial LPG rates cut by Rs 102.5

The price of LPG used in domestic kitchens remains unchanged at Rs 899.50 per 14.2-kg cylinder

LPG customers may get to decide distributor of their choice on refill form

While booking an LPG refill through a mobile app/customer portal using registered login, the customer would be shown the list of delivering distributors along with their performance rating

WPI inflation eases in sync with retail, but core spikes in December

Softens to four-month low of 1.22% in December from 1.55% in November as food items enter deflationary zone; core inflation at 2-year high of 4.2%

Top headlines: June PMI data, GST collections, World Bank grant and more

Here are the top headlines of the day

Oil companies pause after hiking petrol, diesel prices for 21 days straight

On June 27, price of petrol was increased by Rs 0.25 per litre while that of diesel by Rs 0.21 per litre. Rates differ from state to state, depending on value-added tax (VAT)

Another hike in fuel prices, petrol and diesel cross Rs 80-mark in Delhi

Diesel was more expensive than petrol in the city for the third consecutive day on Friday

Top headlines: Cabinet revises MSME definition; monsoon hits Kerala coast

From increased LPG prices in Delhi to protests raging across the US, here are the top headlines of the day

Non-subsidised LPG cylinder price slashed by over Rs 160; check rates here

This is a third straight monthly reduction in the price of LPG cylinders and comes on the back of falling international rates