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REASON BEHIND LPG PRICE CONTINUES TO SURGE IN INDIA

The price of LPG has been increasing very rapidly ever since March 2020, making the lives of normal people miserable.<br> People have no other way other than to adapt to the situation. In this presentation, we have discussed the reasons behind<br> the soaring rise of LPG gas cylinders and how private LPG gas companies see this as an opportunity to make inroads into <br>the large Indian market.<br><br>For More Details, Visit: https://shivgas.com/

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REASON BEHIND LPG PRICE CONTINUES TO SURGE IN INDIA

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  1. REASON BEHIND LPG PRICE CONTINUES TO SURGE IN INDIA 1 1

  2. INTRODUCTION INTRODUCTION The price of liquefied petroleum gas (LPG) cylinders has been hiked seven times since December 2020, currently cylinders in any metro city will cost you nearly Rs 1000. It is a big problem for people as LPG is used in every household in India. In this presentation we will discuss about some of the main reason behind cylinder price. domestic LPG frequent rise in LPG 2 2

  3. Increase In Price Increase In Price o of Crude f Crude O Oil il India depends on other nations for crude oil and price of crude considerably in international market from $20.20 a barrel in May 2020 to $64.54 a barrel on March, 2021. Hence Government has to pay a higher rate of crude oil. This is one of the important reason why LPG price get increased in Indian market. oil increased

  4. Taxes Taxes Higher taxes on fuel is also one of the major reasons of incresing price of LPG cylinders. Tax on fuel in India has rised from 16% to 37%.

  5. Removal Of Subsidy Removal Of Subsidy Government stopped giving a subsidy under Direct Benefit Transfer on LPG (DBTL) scheme from May 2020 and also reduced the amount on LPG subsidy from Rs. 35,605 crore to 25,620 crore, which has effected LPG price.

  6. CONCLUSION CONCLUSION The government has blamed the rise in international rates for the spike in prices of LPG in India as the price of LPG is decided based on an import parity price (IPP) formula, which is based on international product prices. This could force common people to shift towards private players to purchase LPG gas cylinder. There already exist some top private lpg gas companies in India, and with the ever increasing price of LPG, it is expected several private players will also take it as an opportunity to cash in India’s LPG market. 6 6

  7. THANK YOU 7 7

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