Liquefied Petroleum Gas (LPG) prices were hiked on Monday. This is the second increase in gas prices in this calendar year. Subsidised and non-subsidised LPG prices are now revised in Delhi to Rs 495.86 (14.2 kilograms) and Rs 706.50 per cylinder, respectively.
According to a notification on the website of Indian Oil Corporation, the new LPG rates will be applicable from April 1. An increase of 25 paise per cylinder (subsidised) and Rs 5 per cylinder (non-subsidised) LPG has been recorded, as compared to rates of last year, as per data from Indian Oil.
The prices in Mumbai were revised to Rs 493.57 per cylinder (subsidised LPG) and Rs 678.50 per cylinder (non-subsidised LPG).
Before the latest hike in prices, LPG prices in Delhi were lowered by an overall Rs 5.29 per cylinder (subsidised) and Rs 108 per cylinder (non-subsidised), respectively.
The LPG prices are reviewed by retailers each month based on international crude oil and rupee-dollar foreign exchange rates.
The government subsidises 12 cylinders of 14.2 kilograms each per household in a year.
However, the amount of subsidy which is credited directly to the bank account of consumers may vary month to month.
Indian Oil is the largest fuel retailer in the country and supplies LPG under the brand Indane.
(Edited by: Nehal Solanki)