Narendra Modi announces Rs 100 price cut on LPG cylinders; relief for 3.2 cr households, Ujjwala beneficiaries

On the occasion of the International Women’s Day and in the run-up to General Elections 2024, PM Narendra Modi announced a price cut of Rs 100 per LPG cylinder
Narendra Modi announces Rs 100 price cut on LPG cylinders; relief for 3.2 cr households, Ujjwala beneficiaries
Narendra Modi announces Rs 100 price cut on LPG cylinders; relief for 3.2 cr households, Ujjwala beneficiariesEnergy Watch

New Delhi: On the occasion of the International Women’s Day and in the run-up to General Elections 2024, Prime Minister Narendra Modi announced a price cut of Rs 100 per LPG cylinder on Friday. The decision which comes just days ahead of the anticipated announcement of Lok Sabha polls is expected to benefit 3,217 lakh households that have domestic Liquified Petroleum Gas (LPG) cylinder connections. This price cut will also extend to the 10 crore Ujjwala beneficiaries who are already being given a subsidy of Rs 300 per cylinder.

LPG cylinder prices

Government-owned Oil Marketing Companies (OMCs) — Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) — will reduce the price of LPG cylinders from midnight. After factoring in the price reduction, a 14.2-kg domestic LPG cylinder will cost Rs 803 in Delhi, Rs 829 in Kolkata, Rs 802.50 in Mumbai and Rs 818.50 in Chennai. The effective LPG cylinder price for Ujjwala beneficiaries (including the subsidy of Rs 300 per cylinder) would be Rs 503 in Delhi, Rs 529 in Kolkata, Rs 502.50 in Mumbai and Rs 518.50 in Chennai.

“Today, on Women’s Day, our Government has decided to reduce LPG cylinder prices by Rs. 100. This will significantly ease the financial burden on millions of households across the country, especially benefiting our Nari Shakti,” Modi said in a post on X, formerly known as Twitter.

“By making cooking gas more affordable, we also aim to support the well-being of families and ensure a healthier environment. This is in line with our commitment to empowering women and ensuring ‘Ease of Living’ for them,” the PM added.

Narendra Modi announces Rs 100 price cut on LPG cylinders; relief for 3.2 cr households, Ujjwala beneficiaries
IGX sees 324% growth in gas trade volumes in February m-o-m

LPG price cut: Impact

According to National Sample Survey Office (NSSO) data, LPG meets the cooking needs of at least 50 percent of the population in rural areas and 90 percent in urban areas. Therefore, the announcement, which comes ahead of the 2024 Lok Sabha polls, is expected to benefit large number of people. This is only the second time that the government has announced a price cut in domestic LPG cylinders. In August 2023 ahead of Assembly elections in five states, the government had announced a price reduction of Rs 200 per LPG cylinder and had also decided to provide an additional 75 lakh Ujjwala connections. The price cuts announced by the government are mostly absorbed by state-run OMCs, while the subsidy announced by the government is paid by the Centre. However, when OMCs have held LPG prices steady in the face of high volatility in the international market, the government has provided financial support to them to help them cover the losses.

Related Stories

No stories found.
logo
Energy Watch
www.energywatch.in