After three months of consecutive rate cuts, LPG cylinder prices increased today. “For the month of June 2020, there has been an increase in international prices of LPG. Due to an increase in the prices in the international market, the RSP (retail selling price) of LPG in the Delhi market will be increased by ₹11.50 per cylinder,” Indian Oil said in a statement.
After the latest adjustment, a (non-subsidized 14.2 kg Indane) cylinder will now cost Rs 593 in Delhi, Rs 590.50 in Mumbai, Rs 606.50 in Chennai and Rs 616 in Kolkata.
The different types of Indane cylinders include: (a) compact 5 kg cylinders for rural, hilly and inaccessible areas, (b) 14.2 kg cylinders for domestic use and 19 kg and 47.5 kg for commercial and industrial use.
Prior to this raise, prices had been cut for three months on run owing to benign global prices.
According to the Indian Oil NSE 3.13 % website, this hike won’t affect Ujjwala Yojana beneficiaries because they are “covered under Pradhan Mantri Garib Kalyan Yojana and are entitled to a free cylinder till June 30th.”
It is worth noting here that cylinder prices are revised at the start of every month depending on the global LPG benchmark rate and the rupee-dollar exchange rate.
In February this year, a 14.2 kg non-subsidized LPG cylinder was priced at ₹858.50 in Delhi and as compared with today’s price, it is cheaper by ₹265.50. In recent months, the LPG cylinder rate had gone up to ₹942.50 (November 2019 in Delhi).
The price hike coincides with the reopening of the economy under ‘Unlock 1.0’ from today. While the sale of petrol and diesel was hit badly till the fourth phase of lockdown which ended yesterday, LPG cylinders remained in demand. In fact, in the first fortnight of May, cooking gas LPG showed a 24% rise in consumption to 1.2 million tonnes as compared with 9,65,000 tonnes in the first half of May 2019.
In the meantime, Bharat Petroleum Corp Ltd (BPCL) customers can now book cooking gas through WhatsApp. The second-largest oil marketing company has launched BPCL Smartline number — 1800224344 — using which its customers can book LPG cylinders. BPCL is also planning to start an LPG delivery tracking service.