The fresh LPG cylinder price hike comes at a time when petrol and diesel prices are near record-high rates. This could result in higher inflationary pressure during the ongoing recession.
The price of domestic cooking gas or Liquified Petroleum Gas (LPG) has been hiked in December following an increase in global energy prices. The price of a 14.2 kg LPG cylinder for domestic use has been increased by Rs 50 from December 15.
With the fresh rise, a non-subsidised LPG cylinder will now cost Rs 644 in Delhi, according to the Indian Oil Corporation (IOC). Furthermore, the price of a five-kilo short cylinder has been increased by Rs 18 and the price of a 19 kg LPG cylinder has now been increased by Rs 36.50.
A 14.2 kg non-subsidised LPG cylinder will now cost Rs 670.50 in Kolkata, Rs 644 in Mumbai and Rs 660 in Chennai. Before the hike, the rate in Delhi was Rs 594, Rs 620.50 in Kolkata, Rs 594 in Mumbai and Rs 610 in Chennai.
Meanwhile, the price of a commercial cylinder has been hiked by Rs 54.50. After the fresh hike, a commercial cylinder in Delhi now costs Rs 1,296.
The fresh hike in LPG cylinder prices comes at a time when petrol and diesel prices are near record-high rates. This could result in higher inflationary pressure during the ongoing recession.
It may be noted that fuel retailers or state-run oil companies revise the prices of lPG cylinders based on international crude oil prices and US dollar and rupee exchange rate. The rates are revised on a monthly basis.