NEW DELHI: The price of non-subsidised cooking gas (LPG) was hiked by a steep Rs 86 per cylinder today, reflecting international trends.
Non-subsidised LPG, bought by those who have either given up their subsidies or exhausted the quota of 12 bottles of 14.2-kg in a year at below market price, will now cost Rs 737.50.
It was priced at Rs 651.50 per 14.2-kg cylinder till yesterday, according to state-owned oil companies.
This hike, steepest in India's history, comes on the back of Rs 66.5 per cylinder increase which was brought into effect from February 1.
Rates have been on the upswing since October, 2016. A non-subsidised LPG cylinder was priced at Rs 466.50 in Delhi in September and has risen by Rs 271 per bottle or 58 per cent in six instalments.
Oil firms also raised price of subsidised cooking gas by a marginal 13 paisa to Rs 434.93 per 14.2-kg cylinder. This follows a 9 paise increase effected from February 1.
Prior to these two marginal price hikes, subsidised cooking gas rates had gone up eight times of nearly Rs 2 per cylinder each.
Aviation turbine fuel (ATF) price was also raised by a marginal Rs 214 per kilolitre to Rs 54,293.38 per kl. The increase comes on back of a 3 per cent hike on February 1.
Oil firms revise rates of ATF and cooking gas on 1st of every month based on oil price and foreign exchange rate in the preceding month.
An official statement said the increase in non-subsidised LPG rates were in "line with the rise in global LPG product prices."
"However, there will be no impact on the LPG consumers receiving subsidised refills," it said.
Giving an illustration, it said the consumer will pay Rs 737 for a new refill in Delhi and will receive subsidy amount of Rs 303 in his/her account and the net price for the consumer will be Rs 434, which remains unchanged.
"Thus, there will be no net impact of the increase in price of non-subsidised cylinder on the LPG consumers receiving subsidised refills," it added.
Source: The Economic Times