Rates for the subsidised LPG cylinders was on Thursday hiked by Rs 2.07 per cylinder, the seventh increase in cooking gas price in six months, while ATF (jet fuel) price was cut by 3.7 per cent.
According to a PTI report, jet fuel price was cut by Rs 1,881 per kilolitre(kl), or 3.7 per cent, to Rs 48,379.63 per kl in Delhi. The reduction comes after two rounds of hikes, the last one being on November 1 by a steep 7.3 per cent.
Wherein, the rate of subsidised LPG rate was hiked and it will now cost Rs 432.71 per 14.2-kg cylinder as against Rs 430.64 previously.
This is the seventh increase in price since July when the government decided to go in for a small hikes of up to Rs 2 per bottle every month to cut down its subsidy outgo.
LPG rates were last hiked on November 1 by Rs 2.05 per cylinder. Prior to that rate was hiked on October 28 by Rs 1.5 per cylinder on account of hike in commission paid to dealers.
Rates went up by Rs 2.03 per cylinder on October 1 to Rs 427.09.
The government had earlier this month decided to take the diesel route for eliminating subsidies on LPG and kerosene.
Diesel price was deregulated in November 2014 after the previous UPA government effected 50 paise hikes every month to eliminate subsidies.
The near Rs 2 per cylinder hike in LPG every month is also aimed at achieving the same purpose. In case of kerosene, the government has allowed state-owned oil companies to raise the price by 25 paise a litre every fortnight for 10 months.
(With PTI inputs)