LPG price hike November 1: LPG prices for commercial cylinders were on Monday increased by Rs 266. The price rise will be effective from today onwards.
Commercial cylinders of the 19 kg in Delhi will cost Rs 2000.50 from today onwards which was costing Rs 1734 earlier. The respite however is that there is no increase in domestic LPG cylinders by the petroleum companies.
Domestic Cylinder price.
LPG Cylinder meant for domestic use witnessed no change in its value. In the national capital, a 14.2 kg without-subsidy LPG Cylinder is sold at Rs. 899.50.
Worth mentioning here is that domestic LPG prices were increased on October 6. In Kolkata, a 14.2 kg domestic LPG cylinder costs Rs 926 while in Chennai it costs Rs 915.50.
The domestic cylinder price in Gurugram is Rs 893.50, in Noida Rs 882.50, Rs 937 in Hyderabad, Rs 922.50 in Lucknow, and Rs 888.50 in Jaipur
Keeping in view the rising prices of crude oil, it is expected that domestic LPG cylinder prices may cross the Rs 1,000 mark soon.
In this year so far, domestic LPG cylinder prices have increased from Rs 694 in January to Rs 899.50 now after eight straight increases.
The two main factors that determine the prices of LPG cylinders in India are global crude oil prices and the dollar-rupee exchange rate as crude prices are denominated in US dollars. Brent crude prices are now hovering near $84 per barrel while the dollar-rupee exchange rate on Friday closed at the 74.88 mark, putting pressure on LPG prices.
As per existing rules, households are eligible to get 12 cylinders of 14.2kg each at subsidized rates. Any quantity over this has to be bought at market price or non-subsidised rates.
On October 6, cooking LPG gas price was hiked by Rs 15 per cylinder in line with a surge in international fuel prices. Rates of both subsidized and non-subsidized LPG prices were hiked, PTI had reported quoting oil company officials.
Like petrol and diesel prices, rates of LPG gas cylinders are decided by state-run oil marketing companies. The government provides subsidies on subsidized domestic LPG cylinders to consumers.