LPG cylinder prices hiked for first time in 3 months
Price of a 14.2 kg subsidised LPG cylinder was hiked by Rs 2.08 and that of a non-subsidised cylinder by Rs 42.50 in New Delhi.
New Delhi: Prices of subsidised and non-subsidised LPG cylinder was hiked on Friday by the state-run oil marketing companies.
The price of a 14.2 kg subsidised LPG cylinder was hiked by Rs 2.08 and that of a non-subsidised cylinder by Rs 42.50 in the national capital. Similarly, prices were revised upwards in the other metro cities as well. IOCL supplies Liquified Petroleum Gas (LPG) under the brand name Indane.
The hike comes as a result of the change in 3-month downward on rates. Between November and February, the price of a subsidised 14.2 kg cylinder was reduced by Rs 13.89 while a non-subsidized cylinder price was reduced by Rs 283.50.
The rise in costs was credited to the increase in worldwide oil prices and the variances in foreign exchange rates.
"The subsidy transfer in customers' bank account has been increased to Rs 205.89 per cylinder in March 2019 as against Rs 165.47 per cylinder in February 2019.", says Indian Oil
People in India can now avail subsidy on 12 cylinders annually unless they deliberately choose not to be included.
GST to be paid on the LPG cylinders is based on the market prices.