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Wednesday, September 28, 2022
HomeIndiaGas cylinder prices will drop soon! An important step taken by the...

Gas cylinder prices will drop soon! An important step taken by the government

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Gas Cylinder Price: The prices of cooking gas have increased rapidly in the last few days. Because of this, the common citizen has become confused. Citizens are paying close attention to when the prices of cylinders will decrease. While this is the case, news has come to the fore that gives relief to the common man.

The Ministry of Petroleum and Gas has issued an order and constituted this review committee headed by Kirit S Parikh, former member of the Planning Commission. The committee will review the pricing formula for gas produced by major oil producing companies like ONGC and Reliance.

This committee set up by the government will advise the consumers about the reasonable price of gas. The committee will have one representative each from private companies related to gas distribution in the city, public gas company GAIL India Limited, Indian Oil Corporation and Ministry of Fertilizers.

By March 2022, gas prices were several times lower than the cost of production. But the rate has risen sharply in the past few months since the start of the Ukraine war. The price of gas in old gas fields has doubled since April to $6.1 per unit and is likely to cross $9 per unit by next month.

The ministry has asked the committee to suggest a reasonable price of gas to be supplied to consumers. The gas is also used as CNG and LPG along with power generation.

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