Union Minister Pralhad Joshi on Sunday said the Center was also “deeply saddened and sorry” over the rise in gas cylinder prices, but termed it “inevitable” in view of the prevailing global situation.
The price of LPG domestic cooking gas has been raised by… $29 per cylinder, marking the second increase in three months as state-owned fuel retailers continue to grapple with rising global energy costs.
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“We also feel very sad and sorry about the rise in gas cylinder prices, but before criticizing, everyone should understand the situation in the entire world. The world is suffering from very serious crises,” Joshi told reporters here.
“No shipping is taking place and LPG is available from a very limited number of sources,” Union Minister for Consumer Affairs, Food, Public Distribution and New and Renewable Energy said.
With a view to ensuring that no hardship is caused to consumers of LPG, petrol and diesel, the Government of India led by Prime Minister Narendra Modi is trying to enhance procurement resources, the minister said.
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He added that the buying is happening from countries very far away from India.
“Transportation costs are high, the basic cost is also high, and insurance costs have increased due to 40-45 days of reshipment. So we are also equally concerned about the common man, but at the same time, rising prices are inevitable,” he added.
The increase comes after a $Oil prices rose by 60 barrels on March 7 after the conflict in West Asia disrupted global energy supplies and raised global fuel prices.
It is estimated that state-run oil marketing companies lose about $100 million $703 per LPG cylinder were sold before the last review.
The Union government said Indian households “continue to pay the lowest prices” for cooking gas globally despite the sharp rise in global cooking gas prices triggered by unrest stemming from the West Asia crisis that began on February 28 following a joint attack by the US and Israel on Iran.
The government said, in a statement, that the cost of supplying local liquefied petroleum gas cylinders had risen to more than $1600 after the rise in international prices that followed the outbreak of war in West Asia.
India’s LPG import costs are linked to the Saudi Contract Price (CP), the global benchmark for the fuel. She added that crude oil has risen about 46 percent since February after disturbances related to the Strait of Hormuz reduced supplies from the Gulf region.
Alleging that the Congress government in Karnataka is plagued by “corruption, nepotism and factionalism”, Joshi took up the research, saying “internal discontent” within the ruling party was evident.
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He added that soon after Chief Minister DK Shivakumar assumed office, one minister resigned and a few others publicly expressed their discontent.
He added, “The situation itself shows that things are not well within the government and administration.”
