LPG CNG Price Today: Stable LPG at ₹802.50, No Change Since March 2024 - Read Now
In today’s world, fuel prices have become a major concern for everyone, especially domestic LPG and CNG. While LPG is an essential part of every household kitchen, CNG is gaining popularity as people become more aware of environmental preservation. Let’s take a look at the current domestic LPG and CNG prices and understand how these prices are determined.
Domestic LPG (14.2 kg) Price
The price of a domestic LPG cylinder (14.2 kg) in Mumbai is ₹802.50. There has been no change in this price compared to the previous month. Since March 2024, the price of LPG has remained steady. Over the past 12 months, the price trend has been declining, with a total reduction of ₹100 from October 2023 to September 2024. The most significant drop was in March 2024, when the price fell by ₹100 in a single revision.
How Are LPG Prices Determined?
In India, the price of domestic LPG is determined by state-run oil companies and is revised monthly. Almost every household in the country has an LPG connection, primarily used for cooking purposes. Any increase in LPG prices directly impacts the common man, as they have to bear the brunt of rising fuel costs. However, the government provides some relief through subsidies.
The government of India currently provides a subsidy on domestic LPG cylinders, and the amount is directly transferred to the consumer's bank account after purchasing the cylinder. This subsidy amount varies each month and depends on international benchmark LPG prices and the foreign exchange rate.
CNG Price
Compressed Natural Gas (CNG) is becoming increasingly popular in India due to its affordability and environmental benefits. CNG prices in India are determined by the government and are directly linked to the global market prices of natural gas. India imports more than half of its natural gas to meet domestic demand. Therefore, any increase or decrease in global natural gas prices affects the CNG prices in India.
Growing Demand for CNG and Environmental Awareness
As people in India become more conscious about protecting the environment, the demand for CNG vehicles has risen significantly. CNG is not only cheaper compared to conventional fuels like petrol and diesel, but it also emits fewer greenhouse gases, reducing pollution. Due to this growing demand, CNG prices fluctuate regularly.
Impact of LPG and CNG Prices
The prices of LPG and CNG have a direct impact on households and individuals across India. LPG is mainly used for cooking, and any price hike in it can strain the household budget, especially during times when other expenses are also increasing. Similarly, CNG prices are becoming crucial for vehicle owners, as it is a cheaper alternative to petrol and diesel.
However, it’s important to note that the prices of both LPG and CNG depend on the international market, currency exchange rates, and government-imposed taxes. Therefore, any changes in the global crude oil or natural gas prices affect fuel prices in India as well.
What to Expect in the Future?
Currently, LPG and CNG prices remain stable, with no change in LPG prices since March 2024, providing some relief to the common man. However, the future will depend on how global crude oil and natural gas prices evolve, as they are the main factors in determining fuel prices in India.
The government is also providing subsidies to ease the financial burden on the people, but how long this subsidy will continue remains to be seen. As for CNG, it is hoped that the international market will remain stable, which would benefit Indian consumers.
LPG and CNG have become essential parts of daily life, and any increase in their prices impacts households across the country. The current stability in fuel prices has brought some relief, but the future will largely depend on international market trends and government policies. It is crucial for the common man to stay updated on fuel prices and manage their budget wisely.
