LPG prices may drop in March, last week's steep hike due to global market pressure: Petroleum Minister Dharmendra Pradhan

Raipur: Union minister Dharmendra Pradhan on Thursday said LPG prices may come down next month. The Minister for Petroleum and Natural Gas, and Steel, who is on a two-day visit to Chhattisgarh, was talking to reporters on his arrival at the Swami Vivekananda Airport in Raipur.[caption id="attachment_4623851" align="alignleft" width="380"]

File photo of union minister Dharmendra Pradhan. Image courtesy: PIB[/caption]Replying to a query about the constant rise in LPG prices, Pradhan said, "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."During the winters, LPG consumption increases, which creates a pressure on the sector. This month, the price increased while next month it will reduce, he said. Last week, cooking gas LPG price hiked by a steep Rs 144.5 per cylinder due to spurt in benchmark global rates of the fuel. However, to insulate the domestic users, the government almost doubled the subsidy it provides on the fuel to keep per cylinder outgo almost unchanged.During his two-day tour, Pradhan will visit the Bhilai Steel Plant (BSP) located in Durg district of the state and hold meetings with the plant officials, union representatives and others.He will also visit iron ore mines of the Bhilai Steel Plant in Dallirajhra town of neighbouring Balod district and lay the foundation of a beneficiation plant there. "BSP holds an important place in our country's steel industry, especially for Indian Railways as it meets 98 percent of the requirement of rail...How we can further improve the production capacity of the plant will be discussed withits officials during my visit," the Union minister said.