Govt Keeps LPG, Petrol, Diesel Prices Unchanged Despite Global Fuel Surge

The Ministry of Petroleum and Natural Gas on Wednesday clarified that domestic LPG, petrol, and diesel prices remain unchanged despite a sharp increase in global fuel costs, aiming to protect households from rising import expenses.

The Ministry stated that it has revised only commercial LPG cylinder prices, as they are deregulated and market-linked. These cylinders, primarily used by industries and hotels, account for less than 10 per cent of the country’s total LPG consumption.

The recent hike follows a steep rise in global benchmarks, particularly the Saudi Contract Price, driven by supply disruptions in the Strait of Hormuz.

Reaffirming the government’s commitment under PM Narendra Modi, the Ministry stated that the price of a 14.2 kg domestic LPG cylinder remains unchanged at Rs 913.

Additionally, beneficiaries under the PMUY scheme continue to receive subsidised cylinders at Rs 613, ensuring affordability for economically weaker sections.

The statement noted that public sector oil marketing companies are currently absorbing significant losses, with under-recoveries estimated at Rs 380 per cylinder.

Global price increases are likely to push cumulative losses higher in the coming months.

The Ministry also highlighted that India maintains some of the lowest domestic LPG prices globally compared to neighbouring countries.

Authorities have kept retail petrol and diesel prices unchanged at Rs 94.77 and Rs 87.67 per litre in Delhi, despite a sharp surge in international crude oil prices. It further clarified that recent price revisions apply only to premium petrol variants, which constitute a small share of total fuel consumption.

Overall, the government emphasised that price stability measures are in place to shield consumers from global volatility.

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