Oil marketing companies release gas prices, no changes in the prices of LPG

Oil marketing companies have released the gas price for the month of October. There has been no change in the prices of LPG Gas Cylinder for the third consecutive month of August-September. This is the fourth consecutive month when there has been no change in its price. This month the oil companies (HPCL, BPCL, IOC) have kept the price of 14.2 kg cylinder without subsidized gas at Rs 594. There is no change in the prices of domestic LPG cylinders in other cities as well. However, the price of commercial cylinders has been increased by Rs 32.

While the price of a gas cylinder of 19kg has increased from 1133.50 to 1166 in the capital of the country Delhi. LPG cylinder has become expensive by Rs 32. The price of 14.2 kg cylinder is Rs 594. In Kolkata, the price of a 19 kg LPG cylinder has increased from Rs 1,196 to Rs 1,220. The price has increased by Rs 24 per cylinder here.

On Wednesday, the price of natural gas was cut by 25 percent. After this cut, gas prices reached a record low of $ 1.79. This will affect the revenue of ONGC, the public sector gas producer, Oil India. The Petroleum Planning and Analysis Cell (PPAC) of the Ministry of Petroleum said natural gas prices have been reduced from the current $ 2.39 to $ 1.79 per million British thermal units (million British thermal units). The price of natural gas was already at an all-time low. It has become much cheaper after this cut.

The new prices will be applicable for six months from October 1. After that, they will be reviewed again. The price of natural gas was earlier cut by 26 percent in April. The price of gas has also been reduced from $ 5.61 to $ 4.06 per MBTU for producers producing gas from difficult areas like the deep sea. Natural gas prices in the country are fixed every six months. It is reviewed every year on 1 April and 1 October.

The Bharatiya Janata Party-led National Democratic Alliance (NDA) government had decided a new gas pricing formula in 2014, based on its price review every six months. Earlier, in May 2010, the Congress-led United Progressive Alliance (UPA) government raised the price of gas sold to power and fertilizer factories from $ 1.79 to $ 4.20 per MBTU. The UPA government approved a new formula for implementation in 2014 but it was rejected when the NDA came to power.