LPG cylinder prices hiked once again. Latest rates in top cities1 min read . Updated: 02 Nov 2018, 02:00 PM IST
LPG prices have gone up by ₹14.13 per cylinder in the last six months
New Delhi: For the sixth consecutive time in as many months, fuel retailers increased the price of LPG cylinders with effect from today. A 14.2kg subsidised LPG cylinder is now more expensive by ₹ 2.94 while the rate of non-subsidised LPG cylinder has been pushed up by ₹ 60. LPG prices are revised at the beginning of every month.
In Delhi, a subsidised LPG cylinder is priced at ₹ 505.34, in Kolkata ₹ 508.7, Mumbai ₹ 503.11 and Chennai ₹ 493.87. LPG prices have gone up by ₹ 14.13 per cylinder in the last six months.
In the non-subsidised category, an LPG cylinder in Delhi costs ₹ 939, Kolkata ₹ 939.5, Mumbai ₹ 912 and Chennai ₹ 958.
The government subsidises 12 LPG cylinders every household in a year under direct benefit transfer (DBT) scheme.
Any rise in international prices of liquified petroleum gas is absorbed as subsidy by the government but a subsequent increase in GST is passed on to the consumers, leading to a rate hike.
“While the price of non-subsidised LPG at Delhi will increase by ₹ 60 per cylinder in November 2018, mainly due to change in international price and foreign exchange fluctuations, the actual impact on subsidised domestic LPG customers is only ₹ 2.94 per cylinder, which is mainly due to GST," a statement from Indian Oil said.
The subsidy transfer in customers’ bank account has been increased to ₹ 433.66 per cylinder in November 2018 as against ₹ 376.60 per cylinder in October 2018.
The balance ₹ 57.06 ( ₹ 60 minus ₹ 2.94) is being compensated to the customer by the increase in subsidy transfer to their bank account. Accordingly, the subsidy transfer in the customer’s bank account has been increased to ₹ 433.66 in November from ₹ 376.60 per cylinder in October.