LPG cylinder prices hiked once again. Latest rates in top cities
LPG prices have gone up by Rs 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 Rs 2.94 while the rate of non-subsidised LPG cylinder has been pushed up by Rs 60. LPG prices are revised at the beginning of every month.
In Delhi, a subsidised LPG cylinder is priced at Rs 505.34, in Kolkata Rs 508.7, Mumbai Rs 503.11 and Chennai Rs 493.87. LPG prices have gone up by Rs 14.13 per cylinder in the last six months.
In the non-subsidised category, an LPG cylinder in Delhi costs Rs 939, Kolkata Rs 939.5, Mumbai Rs 912 and Chennai Rs 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 Rs 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 Rs 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 Rs 433.66 per cylinder in November 2018 as against Rs 376.60 per cylinder in October 2018.
The balance Rs 57.06 (Rs 60 minus Rs 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 Rs 433.66 in November from Rs 376.60 per cylinder in October.
Editor's Picks »
- Etihad will invest in debt-laden Jet Airways, but conditions apply: Reports
- Redmi Note 7’s flash sale will give us an idea of smartphone sales this year
- Indra Nooyi being considered to head World Bank
- SC agrees to hear challenge to Nageswara Rao’s appointment as interim CBI director
- Facebook advertising rules to become stricter for Lok Sabha election
- Why Tata Motors’ Project Charge at JLR is failing to recharge its shares
- Outlook on global profit growth worst since 2008 financial crisis
- Q3 results: ICICI Securities loses its retail broking crown
- High drug approvals to keep up pricing pressure for pharma firms
- Roads sector: Toll collections set to surge, but risks loom for developers