At a press conference held on April 7, 2025, Minister of Petroleum and Natural Gas, Hardeep Singh Puri, confirmed that LPG cylinder prices will be hiked by ₹50 effective from tomorrow morning, even as he shared a detailed overview of India’s LPG landscape and oil pricing strategy.
The minister emphasized that despite global volatility, the Indian government has shielded consumers to a large extent. Here are key highlights from his briefing:
- Can expect petrol and diesel price cuts if crude oil hovers around $60 per barrel, according to the minister.
- LPG coverage in India has surpassed 100%, up from 55.9% in 2014 to 104% today.
- The PM Ujjwala Yojana has provided over 10 crore connections, showcasing significant expansion of access.
- LPG consumption in India stands at 30.4 MMT (Million Metric Tonnes) currently.
- International LPG prices have been rising, but the government did not pass the burden onto consumers, he said.
- Oil Marketing Companies (OMCs) suffered a ₹28,000 crore loss in FY22, of which only ₹22,000 crore was compensated.
- The increase in international LPG prices has largely been absorbed by OMCs, Puri added.
- In FY25 alone, OMCs are estimated to face a loss of ₹41,328 crore due to LPG under-recoveries.
- LPG subsidies have now gone up to ₹300 to support consumers.
- He also noted that LPG prices in India have come down by 23% over a period due to policy support and global factors.
This ₹50 hike in LPG cylinder prices comes despite substantial government support, and is being positioned as a balancing act in response to the evolving global energy landscape.
Govt raises excise duty on petrol and diesel by Rs 2 per litre, effective April 8
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Energy prices are subject to global fluctuations and government policy changes.
