LPG worth hiked by Rs 50; Crosses Rs 1,000 mark in most locations

Cooking fuel LPG costs have been on Saturday hiked by Rs 50 per cylinder, the second enhance in charges in simply over six weeks following the firming of worldwide vitality charges.

Non-subsidised LPG now prices Rs 999.50 per 14.2-kg cylinder within the nationwide capital, up from Rs 949.50 beforehand, based on a worth notification of state-owned gas retailers.

This is the second enhance in LPG charges in simply over six weeks. Prices have been hiked by Rs 50 per cylinder on March 22.

Since April 2021, costs have risen by Rs 190 per cylinder.

Petrol and diesel costs nonetheless proceed to be on freeze for over a month now. The pause adopted charges being hiked by a document Rs 10 per litre in a matter of 16 days starting March 22.

Non-subsidised cooking fuel is the one that buyers purchase after exhausting their quota of 12 cylinders at subsidised or below-market charges.

However, the federal government pays no subsidy on LPG in most cities and the worth of the refill that buyers, together with the poor ladies who bought free connection beneath the much-talked Ujjwala scheme, is identical as non-subsidised or market worth LPG.

Non-subsidised LPG prices Rs 999.50 per 14.2-kg cylinder in Mumbai whereas it’s priced at Rs 1,015.50 a bottle in Chennai and Rs 1,026 in Kolkata.

Rates differ from state to state relying on the incidence of native taxes akin to VAT. Prices are greater in states with greater taxes.

Earlier this month, the worth of economic LPG cylinders – the one utilized by institutions like lodges and eating places – was elevated. On May 1, the worth of a 19-kg industrial LPG cylinder was elevated by Rs 102.50 to Rs 2,355.50.

International oil costs have been on the rise this yr. They jumped to a 13-year excessive of USD 140 per barrel in March earlier than shedding a few of the good points. Brent was buying and selling at USD 109.77 per barrel on Saturday.

To compound issues, the Indian rupee tumbled to a close to Rs 77 to a greenback.India depends on abroad purchases to satisfy about 85 per cent of its oil requirement, making it some of the weak in Asia to greater oil costs.

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