LPG prices likely to come down next month : Reports

LPG prices likely to come down next month : Reports

Liquefied petroleum gas (LPG) prices are expected to come down next month after a sharp spike almost Rs 144.50, according to Union minister Dharmendra Pradhan.

Speaking to reporters in Chhattisgarh, the Minister for Petroleum and Natural Gas Dharmendra Pradhan said on Thursday that LPG prices may reduce next month.

When questioned about the reason behind constant rise in LPG prices, Pradhan said it is not true that LPG prices have been constantly on the rise. He said the steep hike last month was due to disruption in the international market.

"This is not true that the price (of LPG) is constantly increasing. This month it was hiked due to the international market. However, there are indications that the prices may come down next month," he said.

He went on to say that LPG consumption rises during winter, resulting in extra pressure on the sector. However, he assured that price of LPG will come down next month.

Just a week ago, the price of LPG was hiked by Rs 144.5 per cylinder due to a spurt in benchmark global rates of fuel. However, the government also doubled subsidy on fuel to keep per cylinder outgo almost unchanged.