LPG gas is used in every household. It is an essential item used in the kitchen. In such a situation, everyone keeps an eye on the ups and downs of its price.
On the 1st of every month, fuel companies revise their product rates.
In this, sometimes we get an increase in the price and sometimes we get to see a fall. Talking about the month of August, a drop of Rs 36 was recorded in commercial LPG cylinders. There was no volatility in domestic LPG.
Know whether the price will increase or not
Let us tell you that the rise in the prices of these products depends on the crude oil price. In such a situation, there has been some increase in the price of Brent crude. In view of this, it can be inferred that there is no hope of reducing the price from the oil marketing companies.
Let us inform that there has been no change in the prices of LPG domestic gas for the last few months. Therefore, there is a possibility of a slight change in the prices. Now it may increase as well as decrease in prices.
This is how the prices of LPG and CNG are fixed
Let us tell you that the price of LPG is calculated using the fixed import parity price formula. This includes crude oil price, sea fare, insurance, custom duty, port cost, dollar-to-rupee exchange, freight, oil company profits, bottling cost and GST.
Almost the same formula is used to fix the price of CNG. There is such a difference between these two that CNG is not prepared from crude oil but from national gas, due to which the price of CNG is fixed on the basis of natural S. India imports natural gas as per requirement.
