The general public-facing inflation has received another blow. Oil marketing companies have increased the LPG cylinders price of 14.2 kg non-subsidized LPG cylinders by Rs 50. Apart from this, the price of a 5 kg small cylinder has also been increased by Rs 18. Also, the 19 kg cylinder has increased by Rs 36.50. Oil companies review the prices of LPG cylinders every month. Prices were reviewed once on 1 December this month. The price of commercial gas cylinders was then increased.
As per the data available on the website of Indian Oil Corporation Limited, the 14.2 kg non-subsidized LPG cylinder has increased by Rs 50 to Rs 694 in the national capital, Delhi. At the same time, 14.2 kg non-subsidized LPG cylinder has increased by Rs 50 to Rs 694 in Mumbai as well as Rs 710 in Chennai and Rs 720.50 in Kolkata. The highest price to be paid for getting a 14.2 kg non-subsidized LPG cylinder in Kolkata. In the first 15 days of December, the price of a 14.2 kg LPG cylinder has increased by Rs 100.
Increase in the price of commercial cylinders
The price of a 19 kg commercial gas cylinder has also increased. In Delhi, it has become Rs 1296. Kolkata and Mumbai have increased by Rs 55 to Rs 1351.50 and Rs 1244. In Chennai, it has risen by Rs 56 to Rs 1410.50.
It is usually the case that companies change the prices of LPG on the first date of every month and also make their information public. But this time it has not happened.
Also read: Indane customers can now book LPG cylinders through WhatsApp; check the process here
The subsidy amount varies every month and is dependent on the changes in the average international benchmark LPG prices added with the foreign exchange rate.
However, most customers have not received subsidies since May, as the combination of international oil price collapse and domestic refill rate increase diminished the gap between subsidized and market rates. If international oil prices remain stable for the remainder of the financial year, the government would end up making massive subsidy savings in a year the pandemic has strained public finances.
For the government, cooking gas subsidy has shrunk to Rs 1,126 crore in the first half of this financial year from Rs 22,635 crore for the entire 2019-20. LPG subsidy had fallen 28 percent in 2019-20 from Rs 31,447 crore in 2018-19 as oil prices stayed low and domestic refill rates rose.
Mean-while, India’s coronavirus case count rose to 99.06 lakh, while the number of people who have recuperated from the disease surged to 94.22 lakh pushing the national recovery rate to 95.12 percent, according to the Union Health Ministry data updated on Monday. More than 22,000 infections were reported in a day on Tuesday, while the death count rose to 1,43,709 with 354 new fatalities, the data showed.
India currently has a fatality rate of 1.45 percent due to coronavirus. The government has said more than 70 percent of the people recover from COVID-19 with mild or very mild symptoms. Such cases may not even require admission to COVID-19 blocks or dedicated hospitals, the Health Ministry said.
