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No respite for common man: Domestic LPG price hiked by Rs 3.50 as inflation continues to rage

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No respite for common man: Domestic LPG price hiked by Rs 3.50 as inflation continues to rage
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New Delhi: Cooking gas LPG prices on Thursday rose for the second time this month by ₹3.50, taking LPG cylinder prices across the country over the ₹1,000-mark, news agency PTI reported.

The cost of a commercial cylinder has also been hiked by Rs 8. With the hike, the price of a domestic LPG cylinder in Delhi and Mumbai is Rs 1003, in Kolkata the domestic LPG cylinder will cost Rs 1029, and in Chennai, it will cost Rs 1018.5 from today.

Earlier, on May 7, the price of a cylinder was raised by Rs 50. Along with the domestic cylinder, the commercial cylinder had also become expensive.

The price of LPG is linked with international prices of LPG, which have been rising as a result of supply concerns due to the Russia-Ukraine conflict. The price of LPG has been rising consistently since November 2020, with the price of a 14.2 kg cylinder in Delhi rising by over Rs 400 or nearly 70 per cent during the period.

A steady increase in crude oil prices due to a recovery in demand post-Covid related restrictions, slow restoration of crude oil production by oil-exporting countries, and the Russia-Ukraine conflict have contributed to the rising LPG prices.

The rise in prices has come at a time when subsidies on cooking gas have been removed for most consumers. In May 2020, the government halted subsidies on LPG cylinders through its direct benefits transfer scheme to all consumers, barring customers in remote areas who face high inland freight costs from ports to bottling plants.

Over 70 percent of Indian households used LPG as their primary cooking fuel and 85 percent had LPG connections in March 2020, according to a study by the Council on Energy, Environment, and Water.

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TAGS:Domestic lpg Inflation 
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