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LPG prices may fluctuate every month
Wednesday October 03, 2012 10:49:53 PM,
IANS
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Mumbai: Oil companies
in the country plan to pass on the benefits of fluctuations in the
global energy prices to consumers with reductions in the retail
sale price of the regular domestic non-subsidised LPG cylinders, a
top official said here Wednesday.
The retail sale price of the 14.20 kg domestic non-subsidised LPG
cylinder has shot up by Rs.127 a cylinder (in Delhi) from Oct 1,
vis-a-vis prices declared for September 2012 due to corresponding
increase in the average price of LPG in the international markets
last month, said Indian Oil Corporation's director M. Nene, here
late Wednesday evening.
The current prices of the non-subsidised non-domestic LPG cylinder
stands at: Rs.913 in Kolkata, Rs.894 in Mumbai, Rs.883.50 in Delhi
and Rs.877.50 in Chennai.
"Any decrease in the LPG prices in international markets would be
passed on to the consumers by way of reductions in the domestic
prices of non-subsidised domestic LPG cylinders supplied to
households during the monthly review," Nene assured.
Similarly, any increase would also have to be borne by the
consumers, depending on a variety of factors in the international
markets, including demand-supply in the world, the fluctuating
dollar rates and other issues, he added.
Nene added that although the government has restricted the supply
of subsidised domestic LPG cylinders to six of 14.20 kg per annum,
there is no restriction on the number of non-subsidised cylinders
the consumers can buy.
Besides, the government has granted exemption on customs and
excise duties on non-subsidised LPG cylinders to reduce the price
burden on the domestic consumers.
Under the new scheme, the public sector oil marketing companies
shall henceforth declare monthly prices of non-subsidies 14.20 kg
domestic LPG cylinder for supplies to households as per landed
costs on import parity basis, which would be based on multiple
factors.
Around 95 percent of the country's LPG gas consumers shall have to
bear the higher costs under the new scheme; the remaining five
percent, mostly in some major cities like Mumbai, are using piped
gas.
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