Govt says LPG, petrol and diesel prices unchanged despite global surge

The Ministry of Petroleum and Natural Gas on Wednesday clarified that domestic LPG petrol and diesel prices remain unchanged despite a sharp rise in global fuel costs driven by geopolitical tensions reported news agency IANSOnly Commercial LPG Prices IncreasedThe government stated that only commercial LPG cylinder prices have been revised upward as they are marketlinked and deregulated These cylinders are primarily used by hotels restaurants and industries and account for less than 10 per cent of total LPG consumption in the country reported IANSThe recent hike follows a steep 44 per cent increase in global LPG benchmark prices particularly the Saudi Contract Price which rose from USD 542 per metric tonne in March to USD 780 for April reported IANSDomestic LPG Prices Remain ProtectedTo shield households from rising international prices the government has kept the cost of domestic LPG unchanged A 142 kg domestic cylinder continues to be priced at Rs 913 reported IANSUnder the Pradhan Mantri Ujjwala Yojana PMUY subsidised LPG cylinders for economically weaker sections remain available at Rs 613 ensuring affordability for vulnerable householdsOil Companies Bearing Significant LossesThe Ministry highlighted that public sector oil marketing companies are currently incurring an underrecovery of around Rs 380 per LPG cylinder at existing prices It added that cumulative losses are expected to reach over Rs 40000 crore in the coming months reported IANSIn the previous year total losses of approximately Rs 60000 crore were shared equally between the government and oil companies to cushion consumers from global price shocksIndia Among Lowest LPG Prices GloballyDespite global volatility India continues to maintain relatively low domestic LPG prices compared to neighbouring countries The Ministry noted that LPG prices are significantly higher in countries such as Pakistan Sri Lanka and Nepal reported IANSThis pricing strategy is aimed at balancing consumer affordability with international market realitiesPetrol and Diesel Prices Remain StableRetail prices of regular petrol and diesel have also been kept unchanged In Delhi petrol continues to retail at Rs 9477 per litre while diesel is priced at Rs 8767 per litre reported IANSThe Ministry said that despite a sharp rise in global petroleum pricesmdashup by as much as 100 per cent in the past monthmdashoil companies are absorbing significant underrecoveries at the retail levelPremium Fuels Revised Limited Impact on ConsumersThe government clarified that recent price increases apply only to premium petrol variants such as XP95 and other highoctane fuels These products are revised more frequently and account for just 2ndash5 per cent of total fuel sales limiting their impact on the broader consumer base reported IANSGlobal Disruptions Continue to Impact MarketsThe surge in international fuel prices has been linked to supply disruptions particularly around the Strait of Hormuz a critical global oil transit route These developments have increased import costs for countries like IndiaDespite these pressures the government emphasised that it remains committed to protecting consumers by keeping essential fuel prices stable even as global markets remain volatileWith inputs from IANS