<p>A day after the cap on subsidised cooking gas cylinder was raised to nine, state-run oil companies on Friday hiked the price of non-subsidised LPG by Rs 46.50 per cylinder, a move that will help them to mitigate losses. <br /><br /></p>.<p>The non-subsidised LPG cylinders are now expected to cost Rs 942 in Delhi. However, rates will vary from state to state, depending on local taxes.<br /><br />Diesel price was also hiked by 45 paise per litre, excluding state levies, while petrol price was slashed by 25 paise. A decision to this effect was taken on Thursday and implemented on Friday.<br /><br />Consequently, diesel in Delhi will cost Rs 47.65 per litre as against Rs 47.15 per litre earlier. A litre of diesel will cost Rs 53.71 in Mumbai, Rs 51.51 in Kolkata and Rs 50.68 in Chennai. <br /><br />The move is expected reduce the government’s subsidy bill and rein in fiscal deficit. Now, the government coughs up a whopping Rs 96,000 crore as subsidy for diesel.<br /><br />According to ministry officials, the oil marketing companies can revise diesel price by less than Re 1 per litre at one go. The rates of non-subsidised domestic LPG cylinders, which were earlier expected to be determined every month based on the import parity price of LPG, have not been revised since November.</p>
<p>A day after the cap on subsidised cooking gas cylinder was raised to nine, state-run oil companies on Friday hiked the price of non-subsidised LPG by Rs 46.50 per cylinder, a move that will help them to mitigate losses. <br /><br /></p>.<p>The non-subsidised LPG cylinders are now expected to cost Rs 942 in Delhi. However, rates will vary from state to state, depending on local taxes.<br /><br />Diesel price was also hiked by 45 paise per litre, excluding state levies, while petrol price was slashed by 25 paise. A decision to this effect was taken on Thursday and implemented on Friday.<br /><br />Consequently, diesel in Delhi will cost Rs 47.65 per litre as against Rs 47.15 per litre earlier. A litre of diesel will cost Rs 53.71 in Mumbai, Rs 51.51 in Kolkata and Rs 50.68 in Chennai. <br /><br />The move is expected reduce the government’s subsidy bill and rein in fiscal deficit. Now, the government coughs up a whopping Rs 96,000 crore as subsidy for diesel.<br /><br />According to ministry officials, the oil marketing companies can revise diesel price by less than Re 1 per litre at one go. The rates of non-subsidised domestic LPG cylinders, which were earlier expected to be determined every month based on the import parity price of LPG, have not been revised since November.</p>
