The rise in cooking gas prices continues unabated with oil marketing companies hiking the LPG (liquefied petroleum gas) prices of non-subsidised cylinders by Rs 25 on Monday. This is the second hike in the past four days and the fourth consecutive hike in LPG prices since February.
The LPG cylinder prices were increased by over Rs 125 in February alone. And since December, the cooking gas prices have been hiked by Rs 200.As per the latest increase, a 14.2-kg non-subsidised LPG cylinder in Delhi will cost Rs 819. Usually, LPG prices revise only once a month and changes reflect only on the first day of each month. However, February saw three hikes altogether.
Before this, the LPG prices were increased by Rs 25 on February 25; Rs 50 on February 14; and Rs 25 on February 4.
Here are prices of cooking gas cylinder across metro cities effective from March 1
- Delhi: Rs 819
- Mumbai: Rs 819
- Kolkata: Rs 845
- Chennai: Rs 835
- Hyderabad: Rs 871.5
Before February, oil marketing companies hiked LPG cylinder prices in December 2020. Prices of LPG cylinders were kept constant in January 2021. Thus, a hike in LPG cylinder prices was expected in February and March. Indian households can purchase a maximum of 12 LPG cylinders per year at subsidised rates. One needs to purchase these cylinders at full price and the subsidy later gets credited into the customer's bank account by the government.
State-run oil marketing companies (OMCs) decide the price of LPG cylinders based on the foreign exchange rate and global oil prices. Oil prices rebounded more than $1 on Monday as Brent crude futures for May rose $1.07, or 1.7%, to $65.49 per barrel by 0410 GMT, reported Reuters. US West Texas Intermediate (WTI) crude futures jumped $1.01, or 1.6%, to $62.51 a barrel.