LPG price hiked by Rs 4.50 per cylinder

LPG price hiked by Rs 4.50 per cylinder

LPG price hiked by Rs 4.50 per cylinder

The price of cooking gas was hiked by Rs 4.50 per cylinder on Wednesday, the 19th increase in rates since July 2016 when the government decided to eliminate subsidy on it by raising prices every month.

Also, the price of jet fuel or aviation turbine fuel (ATF) price has been increased by 2% on firming international rates, the fourth straight increase in rates since August, according to price notification posted by state-owned retailers.

The price of non-subsidised LPG or market-priced cooking gas has been hiked by Rs 93 to Rs 742 per unit. Subsidised LPG price has been hiked by Rs 4.50 per 14.2-kg cylinder to Rs 495.69.

The government last year had asked state-run oil firms to raise prices every month to eliminate all the subsidies by March next year.

Since the implementation of the policy of monthly increases from July last year, subsidised LPG rates have gone up by Rs 76.51 per cylinder. A 14.2-kg LPG cylinder was priced at Rs 419.18 in June 2016.

Every household is entitled to 12 cylinders of 14.2-kg each at subsidised rates in a year. Any requirement beyond that has to be purchased at market price.

Aviation turbine fuel (ATF) will now cost Rs 54,143 per kilolitre (kl) in Delhi, Rs 1,098 per kl more than Rs 53,045 previously, oil companies said.

This is the fourth consecutive monthly hike in ATF price, the last being 6% (Rs 3,025 per kl) on October 1.

State-owned oil firms revise rates of LPG and ATF on the first of every month based on average oil price and foreign exchange rate in the previous month.

There are as many as 18.11 crore customers of subsidised LPG in the country. These include over 3 crore poor women who were given free connections during the last one year under the Pradhan Mantri Ujjwala Yojna. There are 2.66 crore users of non-subsidised cooking gas.