Business Bureau :
THE oil marketing companies (OMCs) have hiked the liquefied petroleum gas (LPG) price by Rs 50 per cylinder of 14.2 kilo on Monday. In the city, LPG cylinder will now cost Rs 821. This has been the second hike of LPG prices in the month of February. On February 4, OMCs increased the cooking gas price by Rs 25 per cylinder, resulting in total hike of Rs 75 this month so far, market sources said.
The Government is currently providing subsidy on the sale of domestic LPG cylinders to the consumers. The subsidy amount is directly credited to the individual’s bank account after the purchase of the cylinder. The subsidy of Rs 40.10 will be deposited in the bank account of consumers which have not exhausted their quota of 12 cylinders in the year. Similarly, the LPG commercial cylinder of 19 kg has been lowered by Rs 8.50 on February 15. It now costs Rs 1,641 per cylinder in the city.
On February 4, the commercial LPG cylinder price was raised by Rs 6 to Rs 1,680.50 per cylinder. In January, the LPG commercial cylinder that cost Rs 1,466.50 was hiked by Rs 190, thereby inflating its price to Rs 1,656.50 per cylinder, sources in the industry said. OMCs revise prices of LPG cylinders, which is primarily dependent on the international benchmark rate of LPG, and the US dollar and rupee exchange rate, sources added.