Domestic LPG price up R4.50 per cylinder, non-subsidised LPG to cost Rs93 more
02 November 2017
State-owned oil marketing companies on Wednesday announced a hike in the price of subsidised LPG (cooking gas) by Rs4.50 per cylinder, the 19th rate hike since July 2016.
OMCs also raised the price of aviation turbine fuel (ATF) or jet fuel by 2 per cent, the fourth straight increase since August, blaming it on rising international crude prices.
ATF will now cost Rs 54,143 per kilolitre (kl) in Delhi, Rs 1,098 per kl more than Rs 53,045 previously, Indian Oil Corporation stated in a release.
ATF price was last raised by 6 per cent (Rs 3,025 per kl) on 1 October.
The price of non-subsidised LPG, which the OMCs sell at market prices has been hiked by Rs93 to Rs742 per bottle. Its price was last revised on 1 October when the rate was hiked by Rs50 to Rs649 per bottle.
Subsidised LPG price has been hiked by Rs4.50 per 14.2-kg cylinder to Rs495.69.
OMCs have been raising product prices in small amounts almost every month, as per the government directive, to eliminate all subsidies by March next year.
With monthly price increases from July last year, subsidised LPG rates have gone up by Rs76.51 per cylinder. A 14.2-kg LPG cylinder was priced at Rs419.18 in June 2016.
Every household is entitled to 12 cylinders of 14.2-kg each at subsidised rates in a year. Any requirement beyond that is to be purchased at market price.
The government announced daily revision of petrol and diesel prices from July this year.
However, jet fuel prices are revised every month. State-owned oil firms revise rates of LPG and ATF on 1st of every month based on average oil price and foreign exchange rate in the previous month.