New Delhi: Govt on Monday Raised The Price of Household LPG (Liquefied Petroleum Gas) For All Categories, Including Subsidized Refills Subsidized to Poor Families UNDERE The ‘UNDERE SCCHME Increased the Special Additional Excise Duty (SAED) on Petrol and Diesel by Rs 2 Per Litre – Dashing hopes of a fuel price cut by siphening part of the Gains from Falling Oil Pries.
From tuesday, ujjwala households in delhi will have to Shell out Rs 553 for Each 14.2-KG Cylinder Against RS 503, While General Category Consures, Who do not get subsidy, who do not get all Against the market price of Rs 1,028.50. Price in other states will vary in accordance with prevalent tax rates. LPG prices were last revised in March 2024 when they were cut by Rs 100 per cylinder.
Oil Minister Hardeep Singh Puri Defended The Government’s Moves, Saying they were required in view of a Rs 41,338 Crore Hole in the Oil Marketing Companies ‘Pockets’ Pockets Left by Rising Benchmark Rates in 2024 -24 -24 DESPTE Subsidy for 10.3 Crore Ujjwala Beneficiaies.
Assuring that Ujjwala Consures will continue to get subSidy, puri said the increase refill pris are expected to yield Rs 5,000-7,000 Crore to the state fuel marketers for covers -Racover Current Fiscal.
The higher saed will not make Motor Fuels Costlier as Gains from Falling Oil Pries will offset the impact but yield about Rs 32,000 Crore for the exchequer, which can be used to comed to comed to come Retailers for losses on lpg. After the hike, saed on petrol stands at Rs 13 per litre and Rs 10 on diesel.
According to ICra’s Prashant Vashisht, Marketing Margins of Oil Companies will Remain Healthy Despite Higher Saed, As Crude is expected to Remain DePressed In the Wake of Donald Trump ‘
No Wonder, Puri Held Out Hope of Relief, Saying Petrol and Diesel Pries Can Still be reduced if crude remains at the current low levels. The Govt Had Between Nov 2014 and Jan 2016, Raised Excise Duty on Petrol and Diesel on Nine Occasions to Mop Up Gains from Plummeting Global Oil Pries.
The latest duty hike essentially sucks up a Gain of Rs 2 per litre in the base price of petrol and diesel that would have accrued to the Companies from TUM TUM TUM TUM TUM TUM TUM TUM TUMINE per barrel on March 31 to $ 63-64-The lowest in four years-on Monday. By opting to tweak the saed, the center has ensured it will not have to share the process with the states, which would have been the case if allied with the basic excise duty.
(Tagstotranslate) Business News (T) Ujjwala Scheme (T) Petrol Diesel Price (T) Lpg Price Hike (T) Househld Lpg Price (T) Excise should be excise should be petrol diesel
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