LPG Prices: At a news conference on Monday, Minister Hardeep Puri declared that LPG cylinders, both Ujjwala and non-Ujjwala, would cost Rs 50 more starting on Tuesday. “There would be a 50 rupee increase in the cost per LPG cylinder. For PMUY beneficiaries, it will increase from Rs 500 to Rs 550. While for others, it will increase from Rs 803 to Rs 853, the minister stated.

Cooking Gas Gets Costlier

“As we proceed, we will review this step.” Every two to three weeks, we go over these,” he continued. According to the minister, the purpose of raising the excise taxes on gasoline and diesel is to make up for the losses that the oil marketing companies have already suffered.

“The finance ministry has levied the two rupee excise duty. The customer will not receive it. It will go into the common kitty and be used to reimburse the same (oil marketing) business for its LPG losses,” the minister continued. With effect from Tuesday, the central government increased the excise taxes on gasoline and diesel by Rs 2 per litre, according to a notification from the Department of Revenue.

Another Blow to the Kitchen Budget

At the moment, the government levies an excise tax of Rs 19.90 per litre on gasoline. It will be raised to Rs 21.90 per litre on Tuesday. In the same vein, fuel excise tax would rise from Rs 15.80 per litre to Rs 17.80 per liter starting on Tuesday.

The Petroleum Ministry has been notified by oil marketing corporations that the retail pricing of gasoline and diesel will not change. Oil marketing companies’ (OMCs’) profits have increased as a result of the recent softening of crude prices. This went from USD 70 per barrel to USD 63 per barrel on Monday. The government may have increased the excise taxes on gasoline and diesel as a result of the significant drop in oil prices.

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