Friday, 07 October 2022

Domestic LPG prices increase again, cross ₹1,000-mark in many cities

Domestic LPG prices increase again, cross ₹1,000-mark in many cities

On Thursday, Cooking gas LPG prices rose for the second time by ₹3.50, taking LPG cylinder prices across the country over the ₹1,000-mark, news agency PTI reported.

Domestic cylinder prices now major city:

From today, Domestic 14.2 kg LPG cylinders will be available in Mumbai and Delhi for ₹1,003; and in Chennai for ₹1,018.5; in Kolkata, it will cost ₹1,029.

Gas prices were hiked by ₹50 as of 7th May, due to which the LPG cylinder cost crossed the 1,000-mark in many cities, excluding the national capital.

However, after today’s hike, Delhi has crossed the mark. Sources say that in the last year, the domestic LPG cylinder in the national capital has gone up to ₹1,003 from ₹809.

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Commercial cylinders costlier

A 19 kg Commercial LPG cylinder is now being sold for 2,507 in Chennai, 2,306 in Mumbai, 2,454 in Kolkata, and ₹2,354 in Delhi. Earlier this month, the price of commercial 19 kg LPG cylinders - the ones used by establishments like restaurants and hotels - was increased. On 1st May, the price of a 19-kg commercial LPG cylinder was increased by ₹102.50 to ₹2,355.50. In the last year, the rate of commercial cylinders has reportedly gone up by ₹750.

The price hike in LPG cylinders was seen when the Consumer Price Index-based retail inflation grew to 7.8 percent in April, the highest since the Narendra Modi-led National Democratic Alliance (NDA) government assumed power in May 2014.

The surge is also seen due to increased geopolitical tensions and the rise in transportation costs due to fuel prices.

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