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Oil cos seek rise in LPG and kerosene prices

New Delhi, Nov. 21 (PTI): State-run oil firms have asked the government for increasing the price of domestic cooking gas (LPG) and kerosene for public distribution system (PDS) in view of increase in global prices, the Lok Sabha was informed today.

“In view of the increase in the international price of LPG and kerosene post-March 2002, the oil companies feel that the consumer prices of domestic LPG and PDS kerosene should be increased,” minister of state for petroleum and natural gas Santosh Gangwar said in a written reply to the lower house of Parliament here.

Gangwar said the government was yet to fix the flat rate of subsidy on domestic LPG and PDS kerosene. “Once the subsidy rates are finalised, the consumer prices of these products would be fixed by the oil companies in line with the prices in the international oil market.”

The retail sale price of domestic LPG at Rs 240.45 per cylinder was about Rs 140 per cylinder short of import parity price while PDS kerosene at Rs 8.92 per litre was about Rs 4.50 per litre short of import parity price.

In reply to another question, Gangwar said the fluctuation in the international oil market are bound to get reflected in the domestic consumer prices of petroleum product after dismantling of the administered pricing mechanism from April 1, 2002.

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