Highlights:
- The price of domestic LPG cylinders has been increased by Rs.25.50.
- In Delhi, a 14.2 kg domestic cylinder will now cost Rs.834.50.
- LPG cylinder pricing are changed at the start of each month based on the worldwide benchmark rate of LPG and the exchange rate of the US dollar and rupee.
Oil Marketing Companies (OMCs) have raised the price of liquified petroleum gas (LPG) cylinders that would be applicable from today. With effect from today, the price of a domestic LPG cylinder with subsidy has increased by Rs.25.50 per cylinder. A 14.2 kg household cylinder now costs Rs.834.50 in Delhi. According to news outlet ANI, which cited sources, the price of a 19 kg cylinder has also been hiked by 76 percent and would now cost Rs.1,550 in Delhi.
Following the hike, cooking gas in Mumbai and Delhi will now cost Rs.834.5 per 14.2 kg cylinder, which was previously for Rs.809 per 14.2 kg cylinder.
LPG cylinder pricing are changed at the beginning of each month based on the global benchmark rate of LPG and the exchange rate of the US dollar and rupee.
Also Read: Compensation For COVID-19 Victims: Supreme Courts Directs Centre To Form Guidelines In Under 6 Weeks
Revised rates of LPG cylinders (Indane – non-subsidised 14.2 kg):
Delhi- Rs. 834.50
Kolkata- Rs.861
Mumbai- Rs.834.50
Chennai- Rs.850.50
The hike applies to all categories, including those who are subsidised and those who are not.
LPG is only offered at one price, the market price, throughout the country. The government, on the other hand, provides a tiny subsidy to a limited group of customers.
However, during the last few years, periodic price rises in metros and major cities have removed this subsidy. As a result, from May 2020, there has been no subsidy granted to customers in places like Delhi, and all LPG users must pay the market price, which is presently Rs.834.50.
On February 4, LPG rates were increased by Rs.25 per cylinder, followed by a Rs.50 rise on February 15, and a Rs.25 increase on February 25 and March 1. Following a 125-rupee increase in cooking gas pricing on April 1, state-owned oil companies announced a Rs.10-per-cylinder reduction in LPG rates due to lower international oil costs.
According to an oil company official, consumers in distant and far-flung places receive a little subsidy to compensate for the higher price due to freight charges.
Meanwhile, global oil prices have risen in recent weeks on expectations of a quick recovery in fuel demand. Brent crude surpassed $75 per barrel for the first time since April of this year.
