liquefied petroleum gas (LPG) price has been hiked again by Rs 25, making it the second consecutive month that oil companies have increased the price of LPG. With the new changes, the price of lpg cylinder Between January 1 and August 17, Rs 165 per cylinder would have gone up. The new changes will be effective from August 17. The latest price hike includes a 14.2 kg domestic cylinder which costs around Rs 859.50 in the country’s capital Delhi. Citizens in Mumbai city have to pay Rs 859.50 per cylinder for non-subsidised LPG. The price of LPG cylinder in Kolkata is Rs.886.50. LPG cylinder price in Chennai city is Rs.875.50 per LPG cylinder. Out of the four metros mentioned, Kolkata has the highest price.
NS domestic cooking gas price According to the Indian Oil website, the last hike in cylinders was on July 1. The price of a 19-kg commercial LPG cylinder was raised on August 1; However, there was no change in the price of domestic gas cylinders at that time.
The price of LPG in India can be calculated on the basis of Import Parity Price (IPP). The IPP is based on the price of LPG in the international market, given that a country imports the fuel. Saudi Aramco’s LPG price includes FOB (free on board) price, ocean freight, insurance, customs duty, port dues etc. This price is quoted in dollars and then converted into rupees. It is then added on top of the prices in the country like GST, excise duty, freight charges etc. On this basis, the price of LPG in India is decided every month. LPG cylinder prices vary from state to state based on state-wise taxes, such as petrol and diesel.
Keeping this in mind, if international LPG prices rise or if the rupee depreciates at any point, it is likely to translate into higher LPG retail rates in India. The price of international LPG moves with the price of crude oil. Crude oil prices fell for the fifth day on Wednesday as investors worried about rising levels of COVID-19 across the world. Similarly, oil benchmarks have also been under tremendous pressure due to rising cases of delta variants. The global benchmark had lost 11 per cent in the last 13 trading days.
There is also the factor of subsidy to be considered which is provided by the central government. The government provides these subsidies to customers from some states facing heavy freight charges. Under this scheme, each family gets 12 cylinders in a year and this subsidy amount varies every month. Families with an annual income of less than Rs 10 lakh are eligible for the subsidy facility. To get the subsidy, customers have to link their bank accounts with their Aadhar card. The amount of subsidy given by the government varies from month to month.
All the three major PSU suppliers – Indian Oil, Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) – charge almost the same price across the country. Higher LPG price will sting you from August as you will have to spend more on it.
Petrol and diesel prices in the country are at all-time high. One liter of petrol is being sold in Delhi for Rs.101.84. In Mumbai, petrol prices remained unchanged at Rs 107.83 per liter, the highest among the four metro cities. However, the price has remained unchanged since the beginning of July. The price of diesel has been reduced by 40 paise in the last two days.
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