LPG price cut by Rs 100: Will govt slash prices of petrol and diesel?

Prime Minister Narendra Modi on Friday announced a steep cut of Rs 100 in cooking gas LPG prices to ease the financial burden on households. According to reports, the price cut has been done because of the easing of international oil and gas prices, against which domestic fuel rates are benchmarked.

The price cut, the first since August 30, 2023, will be applicable from tonight. 

However, no change in petrol and diesel prices has been announced. Petrol and diesel prices continue to be on freeze for a record 23 months now.

But sources claim that there are chances of price cut in petrol and diesel prices ahead of the festival. They claimed that oil marketing companies (OMCs) are not at a loss right now and therefore there are chances of a price cut in the coming weeks. 

Earlier on Thursday, the government announced the extension of Rs 300 per LPG cylinder subsidy to poor women under the Ujjwala Yojana for the next fiscal starting April 1.

The government in October last year hiked the subsidy from Rs 200 per 14.2-kg cylinders for up to 12 refills per year to Rs 300 per bottle. The Rs 300 per cylinder subsidy was for the current fiscal, which ends on March 31.

In another post on X, PM Modi greeted people on the International Women's Day.

"We salute the strength, courage, and resilience of our Nari Shakti and laud their accomplishments across various fields. Our government is committed to empowering women through initiatives in education, entrepreneurship, agriculture, technology and more," he said.