For the February month, the price of lpg or cooking gas has been increased for the second time. This time the hike that comes into effect today is by Rs. 50 per 14.2 kg cylinder, making price of non-subsidized LPG cylinder at Rs. 769 in Delhi.
Previously, the hike was announced on February 4 by oil marketing companies.
The LPG rates have been scaling at a time when fuel prices are climbing their respective highs on the back of duty and rising crude prices internationally, which have now moved past $60 per barrel levels.
LPG rates are decided based on international crude rates as well as dollar rupee movement and any movement in them gets reflected in LPG prices.
The rising energy prices will increase inflation risk even as the centre is doing all its bit to revive the coronavirus hit economy.