LPG Price Hike Today: Oil marketing companies have hiked the price of domestic LPG cylinders by Rs 25. A 14.2 kg domestic cylinder will now cost Rs 834.50 in Delhi. The revised rate will be applicable from July 1.
In Mumbai, a domestic cooking gas tank will cost Rs 834.50. In Kolkata, people will have to shell out Rs 835.50 for a domestic cylinder. In Chennai, it will cost Rs 850.50.
The price of commercial cylinder has also been hiked by Rs 84 by the oil marketing companies.
The hike in the LPG comes at a time when petrol and diesel rates are touching record highs across the country. Prices of crude oil and petroleum products in the international market have been on a constant uptrend since November last year. As India is largely import-dependent on crude oil and the prices are market-linked, the increase in international prices results in an increase in the domestic price of petroleum products.
Notably, LPG prices had gone up by Rs 140 per 14.2-kg cylinder in the last six months.
LPG is available only at one rate, market price, across the country. The government, however, gives a small subsidy to select customers. However, this subsidy has been eliminated in metros and major cities through successive price increases over the past couple of years.
LPG prices were hiked first by Rs 25 per cylinder on February 4, followed by a Rs 50 per cylinder increase on February 15 and a Rs 25 raise on February 25 and March 1. On April 1, after raising cooking gas prices by Rs 125 per cylinder, state-owned oil firms announced a Rs 10 per cylinder cut in LPG rates on softening international oil prices.