LPG cylinder prices hiked after 3 consecutive cuts; check rates

Liquified petroleum gas (LPG) cylinder rates have been hiked from Monday after three consecutive months of cuts. The price of a single cylinder of non-subsidised LPG has been hiked by up to Rs 37 in metro cities.

Indian Oil Corporation, one of the country’s largest fuel supplier, cited an increase in the international price of LPG for the month of June and added that the price in Delhi has been increased by Rs 11.50 per cylinder; Rs 37 in Chennai; Rs 31.50 in Kolkata and Rs 11.50 in Mumbai. The prices come into effect from June 1.

LPG rates are revised at the beginning of each month, taking into consideration international prices and the dollar-rupee exchange rate.

After the latest hike, the price of a cylinder of non-subsidised LPG in Delhi will cost Rs 593 while it will cost Rs 616 in Kolkata. In Mumbai, the price of a single cylinder will now cost Rs 590.50 while in Chennai it will now cost Rs 606.50.

LPG prices had been falling for the last few months due to a sharp drop in international prices and in India, prices were cut sharply for three consecutive months. In comparison, the recent increase is marginal.

Before the coronavirus crisis, however, LPG prices were quite high in India. In February, a standard 14.2 kg non-subsidised LPG cylinder was priced over Rs 850 in Delhi.

It may be noted that the price hike will not impact beneficiaries covered by the Pradhan Mantri Garib Kalyan Yojana, who will get free cylinder till June 30.

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