LPG Cylinder, Milk Prices Rise: Commercial Gas Up ₹11.50, Mumbai Milk ₹9 Costlier; Sugar Rule Changed

Several major economic and business developments are in focus on September 2, 2026. Commercial LPG cylinder prices have increased from September 1, the government has reduced the stockholding limit for sugar dealers, fuel-export taxes have been revised, and India's August GST collection rose sharply year-on-year. Meanwhile, Oracle's potential layoffs and Parle Biscuits' appointment of George Kovoor as CEO are also making headlines.

1. Sugar Stock Limit Cut to 2,000 Quintals From September 15

The central government has reduced the maximum sugar stock that dealers can hold from 4,000 quintals to 2,000 quintals, effective September 15, 2026.

The measure will remain in force until November 30 and is aimed at curbing hoarding and speculative trading while ensuring adequate sugar availability and price stability ahead of the festive season.

Under the revised rules, dealers cannot hold sugar for more than 30 days from the date of receipt. The 2,000-quintal limit will apply across the country, although Kolkata and its extended metropolitan areas will continue with the 4,000-quintal limit because of the region's specific supply requirements.

2. Petrol Export Tax Raised to ₹1.50, Diesel Levy to ₹25

The government has revised the windfall tax on petroleum product exports from September 1.

The levy on petrol exports has been raised from zero to ₹1.50 per litre, while the tax on diesel exports has increased from ₹24 to ₹25 per litre.

At the same time, the export levy on aviation turbine fuel (ATF) has been reduced from ₹19.50 to ₹19 per litre. The rates are reviewed every fortnight based on global crude oil and petroleum-product prices.

3. Commercial LPG Cylinder Price Hiked; Domestic LPG Unchanged

Oil marketing companies have increased the prices of 19-kg commercial LPG cylinders from September 1.

The increase varies by city. Kolkata recorded the highest increase of ₹11.50, taking the price to ₹2,884. In Delhi, the increase was around ₹9.50, taking the cylinder price to ₹2,747.50.

The price of the 5-kg non-domestic LPG refill increased by ₹2 to ₹764.

However, there was no increase in the price of the 14.2-kg domestic LPG cylinder, providing relief to household consumers.

4. Milk Prices Rise in Mumbai

Mumbai's wholesale milk market has also seen a price increase. The Bombay Milk Producers Association raised the wholesale price by ₹9 per litre, taking it to ₹102 per litre.

This is a Mumbai wholesale milk-price increase, not a nationwide ₹9 retail milk hike. The higher wholesale cost could put pressure on dairy products and food businesses that use milk as an input.

5. Oracle Layoffs: Up to 10,000 Jobs Reportedly at Risk

Oracle is reportedly considering another round of job cuts that could affect 7,000–10,000 employees globally, including employees in India.

The potential layoffs are linked to broader cost-cutting efforts as Oracle continues to spend heavily on cloud infrastructure and artificial intelligence.

However, this should be reported as a potential or reported layoff plan, rather than a confirmed 10,000-job layoff. Oracle had not publicly announced the new cuts as of the latest reports, while September 15 was being discussed as a possible timing.

6. GST Collection Rises 14.8% to ₹1.99 Lakh Crore

India's gross GST collection rose 14.8% year-on-year to ₹1,99,853 crore in August 2026, compared with ₹1,74,116 crore in August 2025.

However, the August figure was lower than July's ₹2.11 lakh crore collection.

Domestic GST revenue increased 9.3% to ₹1,37,249 crore, while GST revenue from imports jumped 29% to ₹62,604 crore. Net GST revenue after refunds stood at ₹1,68,057 crore, up 8.3% year-on-year.

7. Parle Biscuits Appoints George Kovoor as CEO

Parle Biscuits has appointed former PepsiCo executive George Kovoor as its first Chief Executive Officer, effective September 1, 2026.

Kovoor brings more than three decades of experience at PepsiCo, where he held leadership roles across consumer businesses and multiple markets.

Parle Biscuits Managing Director Ajay Chauhan said the company looks forward to working with Kovoor to strengthen its capabilities and identify new opportunities for sustainable growth.

Parle's distribution network spans more than 7.5 million retail outlets in India, while the company also has a presence in international markets including Asia and Africa. Its major brands include Parle-G, Monaco, Krackjack, Hide & Seek and Melody.