Hyderabad: Centre on Monday hiked the LPG prices by Rs 25 per cylinder.
This is the second hike in the last four days. Just three days ago, the prices were hiked by Rs 25. The hike in LPG cylinder price has been hurting the budget of a common man across the country.
After the latest price hike, a 14.2 kilogram domestic LPG cylinder will cost Rs 871 in Hyderabad, up from Rs 846. Similarly, the price of a 19-kilogram commercial LPG cylinder has been hiked by Rs 95.
"The price has been increased today by Rs 25 for the domestic cylinder. A commercial cylinder will be Rs 95 dearer," said an Indane Gas agency agent.
On the first day of every month, Oil Marketing Companies (OMCs) announce new rates for cooking gas cylinders. However, in February, the rates were revised thrice 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 that are over Rs 30 crore LPG gas cylinder connections.
Union Minister Dharmendra Pradhan has hinted the price will start decreasing once the winter ends. "Increase in petroleum price in international market has affected consumers too. Prices will come down a little as winter goes away. It is an international matter. Price is high due to an increase in demand. It happens in winter. It will come down as the season ends," he said.
The hike comes at a time when petrol and diesel prices are already touching an all-time high.
Meanwhile, for the second consecutive day, prices of petrol and diesel remained unchanged on March 1.