Domestic LPG Cylinder Price Hike: The price of 14.2-kg domestic liquefied petroleum gas or LPG cylinder has crossed Rs 1,000 in most of the places in India from Thursday. The oil marketing companies have increased the price of cooking gas by Rs 3.5. This was the second hike in the price of domestic cooking gas in the month of May. With the latest revision, your LPG cylinder will now cost Rs 1,003.
A domestic LPG cylinder will cost Rs 1,003 in Delhi, according to Indian Oil website. In Mumbai, 14.2-kg LPG cooking gas cylinder will be priced at 1002.50. In Kolkata, you have to shell Rs 1,029 for cooking gas. The residents in Chennai have to pay Rs 1,018.5 for LPG from Thursday.
Earlier on May 7, the price of LPG cylinder was increased by Rs 50.
19-kg Commercial Cylinder Price Has Been Increased
The price of commercial cylinder has been surged by Rs 8 from Thursday.
A 19-kg commercial cylinder will be available at Rs 2,354 in Delhi, according to the data provided by Indian Oil. In Kolkata, you have to spend Rs 2,454 for a 19-kg cylinder. Commercial LPG cylinder price will increase to Rs 2,306 in Mumbai. With the latest rate hike price of commercial cylinder has been crossed Rs 2,500-mark in Chennai. It will now cost Rs 2,507 in the southern state.
The price of domestic cooking gas varies from one state to another, due to local tax. The fuel retailers usually revise the price of both domestic and commercial LPG cylinders at the beginning of every month in line with global crude oil prices.
Household Budget is Set to Increase
The Russia-Ukraine turmoil have severely affected the international crude oil price in the last few months, which resulted in a sharper jump in domestic cooking gas in the country. In less than two months, the LPG cylinders have become dearer by Rs 103.5. The continuous rise in cooking gas have impacted the household budget of many families across the country. Moreover, the subsidy on cooking gas has been stopped, alleged many customers.
Under PAHAL (Direct Benefit Transfer of LPG) scheme, every household is eligible to get 12 cylinders of 14.2 kg each at subsidised rates in a year. Beyond that, customers need to make any additional purchases of LPG cylinders at the market price.
This hike came at a time when inflation in India had risen to eight-year high of 7.79 per cent in April. The overall food inflation escalated to 8.38 per cent in April. The core inflation, which is calculated by excluding ‘food and beverages’ and ‘fuel and light’ from the overall inflation, surged to 6.8 per cent in April.
The prices of all essential items have shot up in the last couple of months. The spending on commuting has also increased due all-time high petrol prices in the country.
Read all the Latest Business News here
Comments
0 comment