New Delhi: LPG or cooking gas prices were increased by Rs 60 for a 14kg non-subsidised cylinder and by Rs 2.94 for subsidised cylinder, marking the sixth monthly increase in a row since June.
“Increase in LPG prices was due to change in international price and foreign exchange fluctuations, Indian Oil Corporation, the supplier of LPG cylinders under brand Indane, said in a statement. It also said that the actual impact on subsidised domestic LPG customers is mainly due to GST (Goods and Services Tax).
For the month of November, LPG consumers will pay Rs. 505.34 per cylinder at subsidised rates, and Rs. 939 per cylinder at non-subsidised rates. Since June, the subsidised LPG prices have been raised by a total Rs. 14.13 per cylinder in Delhi.
Indian Oil said the subsidy transfer in the customer’s bank account has been increased to Rs. 433.66 per cylinder in the next month, as against Rs. 376.60 per cylinder this month.
The government subsidises 12 LPG cylinders of 14.2 kilograms each per household in a year. It provides the subsidy amount directly in the consumer’s bank account. The consumer has to bear the market price for additional LPG cylinders in a year.
This subsidy amount varies from month to month depending on the changes in the average international benchmark LPG and foreign exchange rates.