LPG price hiked by Rs 11.42 per cylinder; petrol, diesel rates may go up

October 6, 2012

LPG_Rate_hike

 

New Delhi, October 6: Cooking gas (LPG) price was on Saturday hiked by Rs. 11.42 per cylinder following government decision to raise commission paid to the dealers.

 

Petrol and diesel prices too may go up marginally as the Oil Ministry considers raising dealers commission by at least 23 paisa and 10 paisa a litre respectively.

 

The Ministry on Saturday issued orders raising commission paid to LPG dealers from Rs 25.83 per 14.2-kg cylinder to Rs. 37.25, government officials said.

 

The 44 per cent or Rs. 11.42 per cylinder increase in the commission on the subsidised cooking fuel is being passed on to consumers, they said.

 

For the consumer, subsidised LPG in Delhi will now cost Rs. 410.42 per cylinder, up from Rs. 399.

 

The hike comes within weeks of the government deciding to restrict supply of subsidised cooking gas to 6 cylinders of 14.2-kg size per household in a year. The remaining supplies would have to be sourced at market rates.

 

Officials said the commission paid on market price or non-subsidised LPG too has been raised by Rs. 12.17 to Rs 38 per cylinder. Accordingly, a non-subsidised LPG cylinder price will go up from Rs. 883.5 to Rs. 921.5.

 

A similar exercise is on to raise commission paid to petrol pump dealers on sale of petrol and diesel. The Ministry is proposing to raise commission paid on petrol by 23 paisa to 1.72 and that on diesel by 10 paisa to Rs. 1.01 a litre.

 

The hike being considered for petrol and diesel is less than 67 paisa and 42 paisa respectively being demanded by petrol pump dealers in view of their working capital cost going up substantially due to frequent price changes and sharp rise in overheads like electricity charges.

 

The government has also raised commission paid on 5-kg cylinders by Rs 5.33 to Rs 18.63.

 

Currently, petrol pump dealers get Rs 1.49 a litre commission on sale of petrol and Rs 0.91 a litre on diesel.

 

Pump operators have demanded that this be raised to Rs 2.10 a litre on petrol and Rs 1.33 per litre on diesel reasoning that unlike LPG agencies, petrol pumps open 365 days a year on 24 hours basis thereby incurring higher operating cost.

 

LPG agencies are closed on national holidays as well as once a week.

 

Besides, petrol pumps provide free facilities such as toilets, water and air-pressure for tyres, while LPG dealers do not provide any such service, Federation of All India Petroleum Traders (FAIPT) general secretary Ajay Bansal said.

 

Also, LPG rates haven’t increased in over a year but petrol and diesel prices have seen frequent changes.

 

“Increase in prices mean our working capital (money used to buy fuel from oil companies) goes up. Also, our losses increase because of evaporation of fuel,” he said questioning the Oil Ministry’s rationale of hiking LPG dealers commission by almost 50 per cent and offering only 10 per cent to petrol pumps.

 

Officials said the hike in LPG rates comes within days of oil firms raising price of non-subsidised cooking gas (LPG) by Rs 127 per cylinder to Rs 883.5 on account of increase in international oil prices.

 

The government has granted exemption from customs and excise duty on non-subsidised LPG cylinders only for domestic consumption to reduce the price burden on the common man.

 

The price of commercial 14.2-kg LPG cylinder in Delhi will be Rs 1,062, while that of a 19-kg bottle would be Rs 1,536.5.

 


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Agencies
August 5,2020

Ayodhya, Aug 5: Prime Minister Narendra Modi on Wednesday recalled the significance of the path of 'maryada' associated with Lord Ram in the backdrop of the situation created by COVID-19 and emphasised the importance of social distancing and wearing face masks.

He said that the current situation demands 'maryada' should be 'do gaz ki doori, mask hai zaroori' and exhorted everyone to follow it.

In his speech after laying the foundation stone of the Ram Temple in Ayodhya, the Prime Minister said the temple of Lord Ram will inspire and guide humans for ages to come.

He said that the path of `maryada' followed by Lord Ram is all the more necessary today in the situation created by COVID-19.

"The `maryada' (need) today is do gaj ki doori, mask hai jaroori (keep distance of two yards, wear mask). The Almighty may keep all the citizens healthy and happy, this is my prayer. The blessings of Mother Sita and Shri Ram be always there on the citizens," he said.

The Prime Minister termed the occasion as historic and said that India is starting a glorious chapter when people across the country are excited and emotional to have finally achieved what they had been waiting for centuries.

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News Network
April 17,2020

New Delhi, Apr 17: With 1,076 new cases of COVID-19 in the last 24 hours and 32 deaths, India's total count of coronavirus cases has surged to 13,835, said the Union Ministry of Health and Family Welfare on Friday.

The total cases are inclusive of 1,766 cured and discharged patients, one migrated and 452 deaths. At present, there are 11,616 active COVID-19 cases in the country.

Before the lockdown, the doubling rate of COVID-19 cases was about three days, but according to the data of the past 7 days, the doubling rate of cases now stands at 6.2 days, said Lav Aggarwal, Joint Secretary, Health and Family Welfare.

"Before the lockdown, doubling rate of COVID-19 cases was about three days but according to the data of past 7 days, the doubling rate of cases now stands at 6.2 days," Aggarwal said during the daily briefing on COVID-19.

Aggarwal said that as many as 5 lakh rapid antibody testing kits are being distributed to States and Districts where a high case burden has been observed.

"A total of 1,919 dedicated COVID-19 hospitals with 1.73 lakh isolation beds, 21,800 ICU beds readied in India," he added. 

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News Network
January 31,2020

New Delhi, Jan 31: Chief Economic Adviser K V Subramanian on Friday said India's GDP is expected to grow at 6-6.5 per cent next fiscal as the economic slowdown has bottomed out.

As per the first advance estimates released by the National Statistical Organisation (NSO), the country's economic growth is likely to hit an 11-year low of 5 per cent in the current fiscal ending March 2020.

The Economic Survey 2019-20, prepared by a team lead by Subramanian, has projected the GDP to expand in the range of 6-6.5 per cent during 2020-21.

The Indian economy has hit the bottom and it will see an uptick from here, he said in a media briefing post the Economic Survey.

Amidst a weak environment for global manufacturing, trade and demand, the Indian economy slowed down with GDP growth moderating to 4.8 per cent in the first half of 2019-20, lower than 6.2 per cent in H2 of 2018-19.

Based on NSO's first advance estimates of GDP growth for 2019-20 at 5 per cent, an uptick in GDP growth is expected in the second half of the fiscal, it said.

According to it, the uptick in second half of 2019-20 would be mainly due to ten positive factors like picking up of Nifty India Consumption Index for the first time this year, an upbeat secondary market, higher FDI flows, build-up of demand pressure, positive outlook for rural consumption, rebound of industrial activity, steady improvement in manufacturing, growth in merchandise exports, higher build-up of foreign exchange reserves and positive growth rate of GST revenue collection.

The survey also emphasised that merger of public sector banks may increase the financial strength of the merged entities, lower the risk aversion and result in lowering of lending rates.

Further, as the implementation of GST further settles down, the increased unification of the domestic market may reduce business costs and facilitate fresh investment.

Reforms in land and labour market may further reduce business costs, said the survey, presented a day before Sitharaman's Union Budget 2020-21.

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