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Moneycontrol | LPG Price: Know, when will LPG become cheaper? Petroleum Minister Hardeep Puri gave great news

Feb 10,2023

Union Petroleum and Natural Gas Minister Hardeep Singh Puri said in the Lok Sabha on Thursday that if the prices come down in the international market, the government can give relief to the consumers through subsidy on LPG cylinders. He said domestic PLG can be sold at an "economical price" if international fuel prices come down from the current price of $750 per metric tonne.

Explain that the Government of India imports about 60 percent of the total domestic requirement of gas. The Union Minister has said that a subsidy of Rs 200 is given at this time. What is this subsidy? It is taxpayers' money... who are the most vulnerable. He said that we are always ready to help if it is left to this House and Hon'ble Prime Minister it would be ideal.
Responding to a question on providing more subsidy to people on cooking gas, Puri said,

"Interestingly, during the last two years, the Saudi contract price has increased from $250 per metric ton to $900 per metric ton. If the international Saudi contract price falls below $750 per metric ton, it will allow domestic LPG to be sold at even more affordable rates."

The Union Minister said that despite rising international gas prices, the government is sensitive to the needs of the consumer population. Puri further said that we did not allow the price of domestic LPG to increase. The Saudi contract price increased by 333 per cent and yet there was very little increase in the domestic LPG price.

He said that the marketing companies have not increased the gas prices, while they have suffered huge losses. They have suffered a loss of Rs 28,000 crore. The minister pointed out that the domestic production of LPG gas increased by 18 per cent last year, but the demand for energy in the fastest growing economy is also increasing.