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Prices of LPG Gas Cylinder Hiked Significantly

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The price of non-subsidized petroleum gas (LPG) cylinders has now been steadily higher in state-run petroleum companies. Throughout India, the price of LPG cylinders mainly depends on two variables-the foreign LPG benchmark cost and the exchange rate of the US Dollar and Rupee. As per the website of Indian Oil, which sells 30 lakh Indane cylinders every day in India, a 14.2 kg non-subsidized LPG cylinder is now priced at around Rs 858.5 in New Delhi, a significant hike of Rs144.5 since its last revised on 1 January.

Prices of LPG Gas Cylinder Hiked Significantly
 

In Kolkata, the prices of LPG cylinders were raised by Rs 149 to Rs 896, Rs 145 to Rs 829.5 in Mumbai and Rs 147 to Rs 881 in Chennai respectively. For the Budgetary year 2020, the government raised the allocation for the next fiscal year to provide subsidized fuel, in particular LPG and kerosene, by 6% to approximately Rs 40.915.21 crore. The LPG subsidy allocation has been raised to Rs 37,256.21 crore for the next fiscal year from the current year's revised estimate of Rs 34,085.86 crore. In the updated estimation, Rs 38,568.86 crore fund has been allocated as fuel subsidy for the fiscal year 2020. However, the kerosene subsidy allocation has been decreased for the next year to Rs 3,659 Cr of the updated estimate of Rs 4,483 of the current year.

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