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Not again! LPG price hiked for the second time this year

BusinessToday.In     April 15, 2019

LPG (liquefied petroleum gas) cylinder prices have been increased by upto Rs 5 per unit (14.2 kilograms) from April 1 as compared with the previous month. This is the second consecutive price hike this calendar year due to change in international price and foreign exchange fluctuations.

In Delhi, the price of non-subsidised LPG has been raised by Rs 5 per cylinder, while that of subsidised LPG by 25 paise per cylinder, as per Indian Oil Corporation data.

The IOC data shows that a subsidised LPG cylinder costs Rs 495.86 per unit (14.2 Kilograms) in Delhi and Rs 493.57 per unit in Mumbai with effect from April 1. The non-subsidised LPG cylinder prices are revised to Rs 706.5 and Rs 678.5 for Delhi and Mumbai, respectively. Indian oil is country's largest fuel retailer and supplies LPG under its brand 'Indane'.

Meanwhile, subsidised LPG prices in Kolkata and Chennai have been hiked to Rs 499 per cylinder and Rs 483.74 per cylinder. Non-subsidised LPG prices in Kolkata and Chennai are at Rs 732.5 and Rs 722 per cylinder.

Source: IOC

Subsidised LPG prices in Delhi, Kolkata, Mumbai and Chennai were at Rs 495.61 per cylinder, Rs 498.75 per cylinder, Rs 493.32 per cylinder and Rs 483.49 per cylinder in March.

Currently, the LPG prices are reviewed on a monthly basis on the basis of international crude oil and rupee-dollar foreign exchange rates.

The government subsidises 12 LPG cylinders of 14.2 kilograms each per household in a year. It provides the subsidy amount directly in the consumer's bank account. The consumer has to bear the market price for additional LPG cylinders in a year. This subsidy amount varies from month to month depending on the changes in the average international benchmark LPG and foreign exchange rates.

Edited by Chitranjan Kumar

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