Price of non-subsidised cooking gas LPG has been hiked by up to Rs 150 per cylinder across metro cities in the country. (Photo Credit: PTI)
LPG Cylinder Prices Hiked Nearly By Rs 150: Price of non-subsidised LPG Cylinder cooking gas has been hiked by up to Rs 150 per cylinder across metro cities in the country. According to the revised price, a 14.2 kg non-subsidised LPG cylinder price is now at Rs 858.5 in the national capital. A sharp hike of Rs 144.5 from its last revision on January 1. In Kolkata, a 14.2 kg non-subsidised LPG cylinder price is Rs 896.00 (increase by Rs 149). Indane is delivered to the doorsteps of 11 crore households.
In Mumbai, the price of a 14.2 kg non-subsidised LPG cylinder has been hiked by Rs 145 to Rs 829.5 and in Chennai by Rs 147 to Rs 881.
In India, which is dependent on imports to meet 84 per cent of its LPG needs, prices of domestic fuels are at par with benchmark international prices.
Non-subsidised LPG is the gas that consumers buy after exhausting their quota of 12 cylinders of 14.2-kg at sub-market or subsidised rates of Rs 495.86. The subsidy amount varies from month to month depending on the changes in the average international benchmark LPG rate and foreign exchange rate.
When international rates move up, the government provides a higher subsidy. And when they come down, subsidy is cut.
According to tax rules, the goods and services tax on LPG has to be calculated at the market rate of the fuel. The government may choose to subsidise a part of the price but tax will have to be paid at market rates.
So, with the rise in market price or non-subsidised LPG price, the tax incidence on subsidised cooking fuel has also increased, leading to the current price hike.
Meanwhile, Petrol and diesel prices yet again witnessed a dip on Wednesday, February 12. The rates came down by up to 20 paise across major cities of the country. According to the Indian Oil website, the petrol rates are Rs 71.94 per litre in Delhi, Rs 77.60 per litre in Mumbai, Rs 74.58 per litre in Kolkata, and Rs 74.73 per litre in Chennai, respectively. On the other hand, the diesel prices in Delhi, Mumbai, Kolkata, and Chennai remained at Rs 64.87, Rs 67.98, Rs 67.19, and Rs 68.50 per litre, respectively.
In Noida, petrol is retailing at Rs 73.86 a litre, while diesel price is Rs 65.16 a litre. The price of petrol in Gurugram is Rs 72.04 a litre while diesel was selling at Rs 64.27 a litre.