The Oil Marketing Companies (OMCs) on Monday raised the prices of subsidized cooking gas or Liquefied Petroleum Gas (LPG) by over Rs 2 per cylinder to Rs 430.64, the sixth such hike in four months since July this year.
Post the price revision, effective from 1 November, every 14.2 Kilogram cylinder of subsidized LPG will cost Rs 430.64 in Delhi as compared to the existing rate of Rs 428.59, according to Indian Oil Corporation (IOC), the nation’s largest fuel retailer.
Also, the OMCs raised the prices of non-subsidized LPG – which consumers utilize after exhausting their subsidized quota of 12 cylinders — by 7.6 per cent or a steep Rs 37.5 to Rs 529.5 per cylinder. Each 14.2 Kg cylinder of non-subsidized LPG is currently priced at Rs 492.
The government had recently decided to take the diesel route for eliminating subsidies on LPG and kerosene. Diesel price was deregulated in November 2014 after the previous United Progressive Alliance (UPA) government effected 50 paise hikes every month to eliminate subsidies.
The three fuel retailers — Indian Oil Corporation, Hindustan Petroleum and Bharat Petroleum — revise non-subsidised LPG prices on the first day of every month, based on the average international price in the preceding month. Conor Timmins JerseyShare This