LPG Cylinders to witness a hike in price from today

The price of liquified petroleum gas (LPG) cylinders was raised today by Oil Marketing Companies (OMCs). With effect from today, the price of a household LPG cylinder with subsidy has increased by $25.50 per cylinder.In Delhi, a 14.2 kilogramme domestic cylinder would now cost 834.50 rupees. According to news outlet ANI, which cited sources, the price of a 19 kg cylinder has also been boosted by 76 percent and would now cost $1,550 in Delhi.Following the hike, cooking gas in Mumbai and Delhi will now cost 834.5 per 14.2 kg cylinder, up from 809 per 14.2 kg cylinder previously.

LPG cylinder pricing are changed at the beginning of each month based on the worldwide benchmark rate of LPG and the exchange rate of the US dollar and rupee

Latest LPG cylinder rates (Indane – non-subsidised 14.2 kg):

Delhi — 834.50

Kolkata — 861

Mumbai —  834.50

Chennai — 850.50

The rise applies to all users, including those who are subsidised and those who are not. LPG is only offered at one price, the market price, throughout the country. The government, on the other hand, provides a tiny subsidy to a restricted group of clients.However, during the last few years, periodic price rises in metros and major cities have destroyed this subsidy. As a result, from May 2020, there has been no subsidy granted to customers in places like Delhi, and all LPG users must pay the market price, which is presently $834.50.

According to an oil company representative, consumers in distant and far-flung places receive a little subsidy to compensate for the higher price due to freight charges. Meanwhile, global oil prices have risen in recent weeks on expectations of a swift recovery in fuel consumption. Brent crude surpassed $75 per barrel for the first time since April of this year.

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