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    Home / News / India News / LPG cylinder price hiked; check new rates here
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    LPG cylinder price hiked; check new rates here

    LPG cylinder price hiked; check new rates here

    By Siddhant Pandey
    Feb 12, 2020
    05:20 pm

    What's the story

    The state-run oil marketing company Indian Oil Corporation (IOC) on Wednesday increased the rates of LPG cylinders by up to Rs. 149 per cylinder.

    The hiked prices are effective from today.

    This is the sixth consecutive month that prices of cooking gas cylinders have been hiked.

    The latest revision is also the steepest hike in six years.

    Here are more details.

    Details

    Take a look at the new LPG rates

    In Delhi, the latest price hike raises LPG rates to Rs. 858.50 from Rs. 714 in January; a hike of Rs. 144.5.

    In Mumbai, the rates were increased to Rs. 829.50 from Rs. 684.50 the previous month. In Chennai, the LPG rates were hiked to Rs. 881 from Rs. 734 in January.

    In Kolkata, LPG rates were increased by Rs. 149 to Rs. 896.

    Subsidy

    Government doubles LPG subsidy to match price hike

    Accordingly, the government subsidy was also increased by almost twice the amount to keep the cylinder outgo unchanged.

    Industry officials told PTI that the government subsidy payout to domestic users has been raised from Rs. 153.86 per cylinder to Rs. 291.48 per cylinder.

    Notably, domestic LPG users are entitled to 12 14.2-kg cylinders at subsidized rates.

    Information

    LPG subsidy raised to Rs 312.48 for PMUY beneficiaries

    For beneficiaries of the Pradhan Mantri Ujjwala Yojana (PMUY), the LPG subsidy has been increased from Rs. 174.86 per cylinder to Rs. 312.48 per cylinder. Under the scheme, the government notably issued 8 crore free LPG connections to poor women.

    History

    Steepest LPG rate hike since January 2014

    The last increase in LPG rates happened on January 1, when the prices were hiked by Rs. 20.

    LPG rates have been raised consecutively since August last year when LPG was sold at a non-subsidized rate of Rs. 574.50 in Delhi.

    Wednesday's price revision marks the steepest hike since January 2014, when LPG rates shot up by Rs. 220 per cylinder to Rs. 1,241.

    Reason

    Why were the LPG rates hiked?

    The government revises LPG rates on the first of every month on the basis of the average international rate for benchmark fuel and foreign exchange rate in the month before.

    The repeated price hikes since August are due to the increase in prices in the international market. Notably, 84% of India's oil needs are met by imports.

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