LPG gas cylinder prices rise. A price increase of Rs 145 has been imposed on bottles of non-subsidized LPG cylinders.
India's largest oil marketing company Inden A (LPG Gas Cylinder Price) has increased the price of gas cylinders. As per the price announced on Indian Oil (IOC) website, the price of subsidized cooking gas cylinder has increased by about Rs 145. In all major metropolitan areas, the price of 14 kg non-subsidized 14 kg gas cylinder has been increased from Rs 145 to Rs 150, which has come into effect from 12 February.
It is noteworthy that the price of cooking gas was raised on January 1, 2020. Subsidies and market rates change every month, but no changes were made in early February. It is worth mentioning that there are more than 27.6 million users of culinary gas. About two crore of them do not have subsidies.
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In Ahmedabad, the price of indoor subsidy was Rs 710 till February 11, which has increased to Rs 855 on February 12. Thus, the price hike of Rs 145 for culinary gas users in Ahmedabad has been reduced.
How to check LPG Gas Cylinder Rate in four metros of the country - According to the IOC's website, 14 kilos of culinary gas cylinder will now be available in Delhi for Rs 860. Delhi has been hiked by Rs 144.
Onthe other hand, Kolkata's customers will get a cylinder at Rs 896, paying Rs 150 more. With the addition of Rs 145 in Mumbai, the new price has come up to Rs 830.In the southern state of Chennai, its price has been increased by Rs 148 to Rs 882.
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How is the price of a bottle of cylinder gas determined?
LPG cylinder prices are determined by the average international benchmark rate and foreign currency exchange rate. Due to this, the subsidy amount of LPG cylinder also changes every month. When prices rise in the international market, the government gives more subsidies and when prices go down, subsidies are reduced. According to the tax rules, the calculation of GST on cooking gas is determined only on the market value of the fuel.LPG gas cylinders are likely to rise or fall in the coming days as well.In India, the economy has already bleed and the GDP has reached down, due to the increase in LPG gas prices.
