State-controlled oil marketing companies on Wednesday sharply raised the price of non-subsidised liquefied petroleum gas (LPG) cylinders, the sixth increase in as many months. It is worth noting that non-subsidised LPG is the gas that consumers purchase after finishing their quota of 12 cylinders of 14.2-kg at rates of about Rs 556.
As per Indian Oil website, which supplies 30 lakh Indane brand LPG cylinders daily all over the country, a 14.2 kg non-subsidised LPG cylinder is now priced at Rs 858.50 in Delhi, a huge jump of Rs 144.50 from its previous revision on January 1 this year.
In Kolkata, LPG cylinder prices were raised by Rs 149 to Rs 896. An LPG cylinder became costlier by Rs 145 to Rs 829.50 in Mumbai and in Chennai by Rs 147 to Rs 881.
LPG prices are revised every month based on the average international rate for benchmark fuel and the foreign exchange rate of the US dollar and rupee in the preceding month.
Many analysts believe the decision to hike price would provide the government with more resources to spend elsewhere in a year when revenue collections are tepid. The new rates are effective from today. More details are awaited.