3rd hike of LPG cylinder prices, results in total increase of Rs.100 in Feb

3rd hike of LPG cylinder prices, results in total increase of Rs.100 in Feb

THE oil marketing companies (OMCs) have hiked the liquefied petroleum gas (LPG) price by Rs 25 per cylinder of 14.2 kilogram on Thursday. In the city, LPG cylinder will now cost Rs 846. This has been the third hike of LPG prices in the month of February. On February 4, OMCs increased the cooking gas price by Rs 25 per cylinder. On February 15, there was an augment of Rs 50 per cylinder.

The third hike of Rs 25 has resulted in total increase of Rs 100 this month so far, sources said. The Government is currently providing subsidy on the sale of domestic LPG cylinders to the consumers. The subsidy amount is directly credited to the individual’s bank account after the purchase of the cylinder. The subsidy of Rs 40.10 will be deposited in the bank account of consumers which have not exhausted their quota of 12 cylinders in the year.

Similarly, the LPG commercial cylinder of 19 kg has been lowered by Rs 4.50. It now costs Rs 1,636.50 per cylinder in the city. On February 4, the commercial LPG cylinder price was raised by Rs 6 to Rs 1,680.50 per cylinder. On February 15 there was a reduction of Rs 8.50 to Rs 1,641 per cylinder, sources in the industry said. OMCs revise prices of LPG cylinders, which is primarily dependent on the international benchmark rate of LPG, and the US dollar and rupee exchange rate, sources added.