cooking gas lpg price It was hiked by ₹3.50 per cylinder on Thursday, the second hike in the rate this month after the firming up of international energy rates.
As per the price notification of the state-owned fuel retailers, the price of non-subsidised LPG is now ₹ 1,003 per 14.2 kg cylinder in the national capital, from ₹ 999.50 earlier.
it is Second hike in LPG rate this month And the third in less than two months. The price was increased by ₹50 per cylinder on March 22 and then by the same amount on May 7.
From April 2021, the prices have increased by ₹193.5 per cylinder.
However, the prices of petrol and diesel remained stable for the 43rd consecutive day. Rates were hiked by a record Rs 10 per liter after a case stoppage of 16 days starting March 22.
Non-subsidised LPG is the one that consumers buy after exhausting their quota of 12 cylinders at subsidized or below market rates.
However, the government does not provide any subsidy on LPG in most cities and pays the refill cost to consumers, including poor women, who have got free connections. Ujjwala YojanaSame as non-subsidized or market price LPG.
Non-subsidised LPG costs Rs 1,002.50 per 14.2 kg cylinder in Mumbai, while it costs Rs 1,018.50 in Chennai and Rs 1,029 in Kolkata.
Rates vary from state to state depending on the incidence of local taxes such as VAT. Prices are higher in states with higher taxes.
Simultaneously, oil companies also increased the price of commercial LPG cylinders—which are used by establishments such as hotels and restaurants—from ₹8 per cylinder to ₹2,354 per 19-kg cylinder. The price of a commercial LPG cylinder was increased by ₹102.50 to ₹2,355.50 on May 1, but was reduced to ₹2,346 on May 7.
International oil prices have risen this year. They hit a 13-year high of $140 a barrel before turning some gains in March. On Thursday, Brent was trading at $110.13 a barrel.
To compound things, the Indian rupee fell to Rs 77.74 against a dollar, making imports costlier.
India depends on foreign purchases to meet about 85% of its oil requirement, making it one of the most vulnerable to high oil prices in Asia.
While India has excess oil refining capacity, it does not manufacture enough LPG to meet domestic demand and imports significant quantities from countries such as Saudi Arabia.
On Wednesday, an oil ministry official said Saudi LPG prices have increased by 33% while domestic rates have increased by only 11%.