LPG Cylinder Prices Rise: The price of a domestic LPG cylinder has gone up across the country as of Wednesday, July 6th. The latest LPG price increase came into effect with immediate effect. According to the Indian Oil website, the price of a domestic 14.2 kg LPG cylinder has gone up by Rs 50.
Meanwhile, after the current local LPG cylinder price increase, the cylinder price in Mumbai is now Rs. 1,052.50 rupees. It would be 1,079. Meanwhile, Chennai residents will have to pay 1,068.50 rupees to get a drum.
As directed by the state-owned oil marketing companies, the price of a domestic 5 kg cylinder was also increased by Rs 18 per cylinder, while the price of a commercial 19 kg cylinder was reduced by Rs 8.50.
Last year, the price of a domestic 14.2kg LPG cylinder in Delhi increased from Rs 834.50 to Rs 1003. The price of a domestic LPG cylinder was last increased by Rs 4 on May 19, 2022. Earlier, from May 7, the price was Rs 999.50 per cylinder. On that day, LPG cylinders rose by Rs 50 to Rs 949.50. on March 22, 2022. Apart from this, the drum price has also increased by Rs 50 on March 22. Earlier, between October 2021 and February 2022, the price of a local LPG cylinder in Delhi was Rs 899.50.
Prices for LPG cylinders vary according to each state’s value-added tax and transportation costs in the region. It is also calculated based on the price of crude oil. In line with global crude oil prices, retailers review LPG cylinder prices at the beginning of each month.
Rising global crude oil prices have prompted state-owned fuel traders to raise LPG prices. Finance Minister Nirmala Sitharam announced the recent hike in domestic cooking gas prices in May. A subsidy of Rs 200 will be provided to help reduce the burden of rising cooking gas prices. Standard level. The rise in LPG cylinder prices comes at a time when the common man is already under inflationary pressures.
Meanwhile, gasoline and diesel prices remained unchanged for more than a month on Wednesday in protest against the continued rise in cooking gas prices. This comes after Nirmala Sitharam announced the reduction of excise tax on motor fuels to provide relief to the common man.