Lok Sabha Question No. 2001 (UNSTARRED), answered on 2023-12-14
Subject: Price of Petroleum Products
Ministry: PETROLEUM AND NATURAL GAS
Asked by: Deepak Baij

## LOK SABHA UNSTARRED QUESTION NO. 2001 TO BE ANSWERED ON 14 DECEMBER, 2023

## Price of Petroleum Products

## 2001. SHRI DEEPAK BAIJ:

## पेोलयम और ाक ृतक गैस मंी

Will the Minister of PETROLEUM AND NATURAL GAS be pleased to state:

(a)  the  details  of  increase/decrease  in  price  of  petrol,  diesel  and  LPG  cylinders  during  the  last three months, date and item-wise;

(b)  the  details  of  increase/decrease  in  import  price  of  crude  oil  by  various  oil  marketing companies during the said period, basket, import and month-wise;

(c)  whether  the  price  of  petroleum  products  are  being  determined  as  per  the  schedules  of elections of State Assemblies and Parliament; and

(d) if so, the reasons therefor?

## ANSWER

## पेोलयम और ाक ृतक गैस मंालय म राय मंी ( ी रामेश ् वर तेल )

## MINISTER OF STATE IN THE MINISTRY OF PETROLEUM AND NATURAL GAS (SHRI RAMESWAR TELI)

(a) & (b): While crude oil price (Indian basket) increased from $73.30/bbl (December 2021) to $112.87/bbl (March 2022) and further to $116.01 (June 2022) and continue to remain highly volatile, OMCs have not increased/revised retail prices of petrol and diesel since 6 th April 2022. In fact,  excise duty reductions done in November 2021 and May 2022 of Rs. 13/litre and Rs. 16/litre  on  petrol  and  diesel  respectively  were  fully  passed  on  to  consumers.  Some  state governments also reduced state VAT to provide relief to citizens. Retail Selling Prices of petrol and diesel at Delhi are Rs. 96.72 and Rs. 89.62 per litre since 22 nd May, 2022.

India imports more than 60% of its domestic LPG consumption. Price of LPG in the country is linked to its price in the international market. However, Government continues to modulate the effective price to consumer for domestic LPG. The Retail Selling Price of domestic LPG was Rs. 903 per 14.2 Kg LPG cylinder on 1 st September 2023 and there has been no change in price since then.

W.e.f. 21 st May, 2022, Government has been providing a budgetary support for targeted subsidy of Rs. 200 per 14.2 Kg LPG cylinder for Pradhan Mantri Ujjwala Yojana (PMUY) beneficiaries for upto 12 refills a year for years 2022-23 and 2023-24. Moreover, w.e.f.  5 th October, 2023, the targeted subsidy has been further increased to Rs. 300 per 14.2 Kg LPG cylinder for Pradhan Mantri Ujjwala Yojana (PMUY) beneficiaries. As on 01.12.2023, the effective price of domestic LPG for PMUY consumers is Rs. 603 per 14.2 Kg LPG cylinder (at Delhi).

The details of average prices of Indian basket of crude oil in the international market for the last three months are given below:

| Month          |   Indian Basket of Crude Oil ($/bbl) |
|----------------|--------------------------------------|
| September 2023 |                                93.56 |
| October 2023   |                                90.08 |
| November 2023  |                                83.46 |

Source: Petroleum Planning and Analysis Cell (PPAC)

(c) & (d): No Sir. Prices of petrol and diesel are market determined and Public Sector Oil Marketing Companies (OMCs) take appropriate decision on pricing of petrol and diesel.

x-x-x-x-x