LPG prices are likely to come down in March, said Dharmendra Pradhan, the Union minister for petroleum and natural gas, and steel on Thursday (February 20). The prices had shot up by ₹144.50 following the assembly elections in Delhi due to a spike in the global rates of the fuel.
Speaking to reporters at the Swami Vivekananda Airport during his two-day visit to Raipur, the minister said, “This is not true that the price (of LPG) is constantly increasing. This month it was hiked due to the international market. However, there are indications that the prices may come down next month.”
The minister said that during winters, LPG consumption increases, which creates a pressure on the sector. This month, the price increased while next month it will reduce, said Pradhan.
Last week, cooking gas LPG price hiked by a steep ₹144.5 per cylinder due to spurt in benchmark global rates of the fuel. However, to insulate the domestic users, the government almost doubled the subsidy it provides on the fuel to keep per cylinder outgo almost unchanged.
During his visit, Pradhan will visit the Bhilai Steel Plant located in Durg district and hold meetings with the plant officials, union representatives and others. He will also visit iron ore mines of the Bhilai Steel Plant in Dallirajhra town of neighbouring Balod district and lay the foundation of a beneficiation plant there.
“Bhilai Steel Plant holds an important place in our country’s steel industry, especially for Indian Railways as it meets 98 per cent of the requirement of rail… How we can further improve the production capacity of the plant will be discussed with its officials during my visit,” the Union minister said.
(With inputs from agencies)