Hyderabad: Centre on Wednesday hiked the LPG price by Rs 25 per cylinder. A 14.2 kilogram domestic LPG cylinder will now cost Rs 937 in Hyderabad, up from Rs 912.
The hike in LPG cylinder price has been hurting the budget of a common man across the country.
In the last 15 days, the government has increased the price by Rs 50 for the nonsubsidized cylinders. Two weeks ago, the government had increased the price of domestic LPG from Rs 887 to Rs 912. Since January 1, 2020, the price of LPG has increased by Rs 190.50.
The price of the commercial cylinder of 19kg has also increased by Rs 75. The price has reached Rs 1,872.82 from Rs 1798.82
On the first day of every month, Oil Marketing Companies (OMCs) announce new rates for cooking gas cylinders. In July, the price was hiked from Rs 887 to Rs 861. Though, in April the price decreased from Rs 871 to Rs 861. In March the price was hiked by Rs 50 from 821 to 871. The rates were revised amid surging crude oil prices.
It is to be noted that since December, the price of cooking gas has been hiked by Rs 225. In November 2020, the price of domestic cooking gas was Rs 646.50.
The LPG rate across the country is the same. However, the government gives some subsidies to people who are economically weak. This subsidy facility is not applicable in metros and major cities. The price of the LPG gas cylinder is decided by the state-run oil companies and fluctuation in the rates at the international level. Currently, in India, there are over Rs 30 crore LPG gas cylinder connections.
The government provides 12 subsidized LPG cylinders of 14.2 kilograms to a household every year. The amount of the subsidy provided by the government on the annual quota of 12 refills varies from month to month.
Cooking gas rates vary in different parts of the country due to local taxes. Usually, the prices of the non-subsidized LPG cylinders are revised on a monthly basis and any changes are implemented on the first day of each month.
The hike comes at a time when petrol and diesel prices are already touching an all-time high where it has crossed Rs 100 in several parts of the country.