Liquified Petroleum Gas (LPG) has become costlier again. The price of domestic non-subsidised cooking gas has been increased by 25. The oil companies last raised the price of cooking gas on August 17. After the latest hike, a 14.2 kilogram domestic cylinder would now cost Rs 884.50 a piece in the national capital. In Mumbai, a non-subsidised LPG cylinder will now cost Rs 884.50 as well.
The price of a domestic gas cylinder rose for third straight month. A domestic cylinder cost Rs 834 in July. Between January 1 and August 17, the price of cooking gas cylinders has been risen by ₹165 each. On August 1, the prices of the 19-kg commercial LPG cylinders were hiked. However, the price of LPG domestic cooking gas has remained unchanged then.
LPG cylinders price vary from one state to another, due to local taxes. The central government, however, provides a small subsidy to select customers to make up for the higher price arising from freight charges. Each household is eligible for 12 cylinders per year under the government-subsidy scheme. The amount of the subsidy provided by the government varies from month to month.
There has been a consistent increase in the active domestic customers across India, according to the data provided by ministry of petroleum and natural gas. As of July 1, 2021, there are 29.11 crore active domestic LPG consumers, including the PMUY customers. In 2018-19, the country had 26.54 crore customers.
LPG, as well as ATF prices, are revised at the beginning of every month based on the average international rate for benchmark fuel and foreign exchange rate in the preceding month.
International oil prices settled lower on Tuesday. NYMEX gasoline and heating oil futures also dropped on Tuesday. Prices fell as demand is expected to
drop after Hurricane Ida knocked out at least 94 per cent of offshore Gulf of Mexico oil and gas production.
However, petrol and diesel prices in the country are at all-time high.