Amit Bimal
7K posts
@AmitBimal
Care for Environmental and Believe in Humanities.
Prices of Commercial LPG cylinders, used by industries and hotels, are deregulated, market determined and revised normally on a monthly basis. Their consumption is less than 10% of the total LPG consumed in the country. April 1 price increase in Commercial cylinder price is due to a 44% surge in the Saudi Contract Price: from $542/MT in March to $780/MT for April, as 20-30% of global LPG supplies are stuck in Strait of Hormuz. In line with the commitment of Hon’ble PM @narendramodi, the domestic consumer continues to be comprehensively protected: ∙14.2 kg domestic cylinder: Rs 913 — price unchanged ∙PMUY beneficiary price: Rs 613 — price unchanged. At current prices, OMCs are incurring under recovery of Rs 380/cylinder. Cumulative losses by end-May will reach approximately Rs 40,484 crore. Last year also, out of total losses of Rs 60,000 crore, Rs 30,000 crore were absorbed by Oil PSUs and Rs 30,000 crore by Government of India, in order to insulate the Indian citizen from high international LPG prices. India’s domestic LPG price remains one of the the lowest in the world as compared to Pakistan: Rs 1,046. Sri Lanka: Rs 1,242. Nepal: Rs 1,208. @PMOIndia @HardeepSPuri @TheSureshGopi @nsitharaman @FinMinIndia @IndianOilcl @BPCLimited @HPCL @PIB_India @PIBHindi
Prices of Commercial LPG cylinders, used by industries and hotels, are deregulated, market determined and revised normally on a monthly basis. Their consumption is less than 10% of the total LPG consumed in the country. April 1 price increase in Commercial cylinder price is due to a 44% surge in the Saudi Contract Price: from $542/MT in March to $780/MT for April, as 20-30% of global LPG supplies are stuck in Strait of Hormuz. In line with the commitment of Hon’ble PM @narendramodi, the domestic consumer continues to be comprehensively protected: ∙14.2 kg domestic cylinder: Rs 913 — price unchanged ∙PMUY beneficiary price: Rs 613 — price unchanged. At current prices, OMCs are incurring under recovery of Rs 380/cylinder. Cumulative losses by end-May will reach approximately Rs 40,484 crore. Last year also, out of total losses of Rs 60,000 crore, Rs 30,000 crore were absorbed by Oil PSUs and Rs 30,000 crore by Government of India, in order to insulate the Indian citizen from high international LPG prices. India’s domestic LPG price remains one of the the lowest in the world as compared to Pakistan: Rs 1,046. Sri Lanka: Rs 1,242. Nepal: Rs 1,208. @PMOIndia @HardeepSPuri @TheSureshGopi @nsitharaman @FinMinIndia @IndianOilcl @BPCLimited @HPCL @PIB_India @PIBHindi
