You can get big relief from expensive LPG in 2025! Prices halved in this country

LPG Price Cut: On January 1, 2025, government oil companies will review LPG prices and announce new prices. Even though the inflation of LPG cylinder in India is troubling the common people. But the prices of LPG (Liquefied Petroleum Gas) in the domestic market of Russia have reduced to half. In Russia, LPG is used for everything from cooking to cars, heating or the production of other petrochemicals.

Big fall in LPG prices

According to a Reuters report, LPG prices in Russia have fallen to half in December 2024 as compared to November 2024. The price of LPG which was available at 28,000 Rubles at the end of November has come down to 14,000 Rubles i.e. 140 dollars on December 20. That means a direct reduction of 50 percent.

Why did prices decrease?

Russia used to export LPG to European countries on a large scale. But due to European countries imposing economic sanctions on Russia, there has been a big decline in LPG exports from Russia. The European Union’s economic sanctions against Russia come into effect from December 20, 2024. Poland, which was the largest importer of Russian LPG, had proposed a ban on Russian LPG exports. Due to this ban, the supply of LPG in the domestic market of Russia has increased due to which the prices have decreased.

Russia increased exports to other countries

In recent times, Russia has increased LPG exports to countries like China, Mongolia, Armenia, Georgia, Azerbaijan. China is considering increasing LPG imports from Russia. In such a situation, the question now arises that just as India has imported crude oil from Russia at cheap prices, will it also import LPG? After Russia’s attack on Ukraine in February 2022, European countries had banned the export of Russian crude oil. After this, after the rise in crude oil prices, India imported crude oil from Russia at cheap prices. It is another matter that this improved the financial health of the oil companies but the common consumers did not get cheap petrol and diesel.

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