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New Delhi [India], March 1 (ANI): Oil marketing companies have announced a significant increase in the prices of commercial Liquified Petroleum Gas (LPG) gas cylinders, effective from March 1. Sources reveal that the rate of 19 kg commercial LPG gas cylinders has been raised by Rs 25.50, impacting consumers across various metro cities. The revision in prices comes amid ongoing fluctuations in fuel costs and market dynamics. According to the latest updates, the retail sales price of a 19 kg commercial LPG cylinder in Delhi will stand at Rs 1795 from March 1 onwards. This adjustment reflects the evolving landscape of fuel pricing and its implications for consumers. Comparing the revised prices with previous rates offers insights into the extent of the increase. In metro cities like <keyword id="19896626" type="General" weightage="20" keywordseo="kolkata" source="keywords">Kolkata</keyword>, <keyword id="19895282" type="General" weightage="20" keywordseo="mumbai" source="keywords">Mumbai</keyword>, and <keyword id="19895758" type="General" weightage="20" keywordseo="chennai" source="keywords">Chennai</keyword>, the prices of 19 kg <keyword id="20787104" type="General" weightage="20" keywordseo="indane" source="keywords">Indane</keyword> gas cylinders have also been revised upwards. Kolkata will witness a price hike to Rs 1911, while Mumbai and Chennai will see prices rise to Rs 1749 and Rs 1960.50, respectively. The escalation in prices follows a series of consecutive revisions in recent months. Previous prices of 19 kg Indane gas cylinders on January 1 and February 1, highlight the upward trajectory of fuel costs. On February 1, the prices of Indane gas cylinders varied across metro cities, with Delhi, Kolkata, Mumbai, and Chennai each having distinct rates. In Delhi, the price stood at Rs 1769.50, while Kolkata recorded Rs 1887, <keyword id="20787105" type="General" weightage="20" keywordseo="mumbai-rs" source="keywords">Mumbai Rs</keyword> 1723.50, and Chennai Rs 1937. These prices served as the baseline for consumers at the beginning of the month. However, with the advent of March 1, consumers witnessed a notable increase in the prices of Indane LPG gas cylinders across all metro cities. In Delhi, the price surged by 1.44 per cent (Rs 25.5), reaching a new rate of Rs 1795. Similarly, Kolkata experienced an increase of 1.27 per cent (Rs 24), resulting in a revised price of Rs 1911. Mumbai saw a rise of 1.48 per cent (Rs 25.5), bringing the price up to Rs 1749, while Chennai witnessed an increase of 1.21 per cent (Rs 23.5), setting the new rate at Rs 1960.50. The impact of these price hikes is felt across various segments of society, highlighting the broader economic ramifications of fluctuations in fuel prices. The increases underscore the challenges faced by consumers amidst fluctuating fuel prices and economic uncertainties. While the precise reasons behind the price hike remain undisclosed, various factors such as changes in international oil prices, shifts in taxation policies, and supply-demand dynamics likely contribute to such adjustments. The consecutive revisions emphasize the volatile nature of the energy market and its implications for households and businesses reliant on commercial LPG cylinders. (ANI)

Fuel price surge: Oil companies spike commercial LPG rates, impacting metro consumers

Lucknow, Feb 12 () BSP supremo Mayawati on Wednesday attacked the Centre over a steep hike in the price of LPG or cooking gas cylinder, terming it as a "cruel decision" against the poor. Reacting to the hike of Rs 144.5 per LPG cylinder due to spurt in benchmark global rates of the fuel, she said the move will hit crores of poor and hard-working people who are already facing "severe inflation". "It would have been better had the Centre worked as a welfare state as embodied in the Constitution," she tweeted after the price notification of state-owned oil firms. LPG price was increased to Rs 858.50 per 14.2 kg cylinder from Rs 714 previously, making it the steepest hike in rates since January 2014 when prices had gone up by Rs 220 per cylinder to Rs 1,241. NAV SMI CK

Mayawati slams Centre over LPG price hike

New Delhi, Feb 12 () Cooking gas LPG price on Wednesday was hiked by a steep Rs 144.5 per cylinder due to spurt in benchmark global rates of the fuel.But to insulate domestic users, the government almost doubled the subsidy it provides on the fuel to keep per cylinder outgo almost unchanged. LPG price was increased to Rs 858.50 per 14.2 kg cylinder from Rs 714 previously, according to a price notification of state-owned oil firms. This is the steepest hike in rates since January 2014 when prices had gone up by Rs 220 per cylinder to Rs 1,241. Domestic LPG users, who are entitled to buy 12 bottles of 14.2-kg each at subsidised rates in a year, will get more subsidy. The government subsidy payout to domestic users has been increased from Rs 153.86 per cylinder to Rs 291.48, industry officials said. For Pradhan Mantri Ujjwala Yojana (PMUY) beneficiaries, the subsidy has increased from Rs 174.86 to Rs 312.48 per cylinder. After accounting for the subsidy that is paid directly into the bank accounts of LPG users, a 14.2-kg cylinder would cost Rs 567.02 for domestic users and Rs 546.02 for PMUY users. The government gave out 8 crore free LPG connections to poor women under PMUY to increase coverage of environment-friendly fuel in kitchens. Normally, LPG rates are revised on 1st of every month but this time it took almost two weeks for the revision to take place - a phenomenon which industry officials said was due to approvals needed for such a big jump in subsidy outgo. Others said the decision to defer the increase could have been because of assembly elections in Delhi. Delhi voted on February 8. ANZ ANZ ANUANU

LPG price hiked by Rs 144.5 per cylinder

New Delhi, Feb 13 () The oil ministry on Thursday justified the steep Rs 144.50 per cylinder hike in cooking gas LPG prices, saying the rates are based on the international market price that had increased over 26 per cent last month. It also said domestic consumers have been largely insulated from the hike by way of the large increase in subsidy. "The LPG price is derived based on the international market price for the previous month," the ministry said in a statement. "On account of a sharp increase in the international price of LPG during January 2020 from USD 448 per ton to USD 567 a tonne, there has been a hike of Rs 144.50 for a 14.2 kg cylinder," it added. The ministry said the increase in price for 26.12 crore out of total LPG user base of 27.76 crore is borne by the government by enhancing the subsidy component. The government gives a subsidy to LPG users under two different heads -- direct benefit transfer or PAHAL for domestic users and Pradhan Mantri Ujjwala Yojana (PMUY) beneficiaries. "While the price of domestic non-subsidised LPG cylinder has increased from Rs 714 per cylinder to Rs 858.50 per cylinder, the subsidy amount to subsidised consumers in Delhi has increased from Rs 153.86 per cylinder to Rs 291.48 per cylinder. "In view of the subsidised price determined by the government, the subsidised LPG consumers are insulated from the volatility of LPG prices in the international market," the statement said. For the PMUY consumers, the subsidy borne by the government has increased from Rs 174.86 per cylinder to Rs 312.48 per cylinder. "Therefore, the impact of the price hike is mostly borne by the government by enhancing the subsidy for subsidized and PMUY consumers," it said. The price hike announced by oil companies on Wednesday was the steepest in six years. In January 2014, prices had gone up by Rs 220 per cylinder to Rs 1,241. Domestic LPG users are entitled to buy 12 bottles of 14.2-kg each at subsidised rates in a year. Beyond this limit, consumers have to purchase at market price. After accounting for the subsidy that is transferred directly into the bank accounts of LPG users, a 14.2-kg cylinder would cost Rs 567.02 for domestic users and Rs 546.02 for PMUY users. The government gave out eight crore free LPG connections to poor women under PMUY to increase coverage of environment-friendly fuel in kitchens. Normally, LPG rates are revised on the 1st of every month but this time it took almost two weeks for the revision to take place. The ministry's statement did not say why the revision was pushed by 12 days. ANZ RAM

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Fuel price surge: Oil companies spike commercial LPG rates, impacting metro consumers

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Mayawati slams Centre over LPG price hike

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LPG price hiked by Rs 144.5 per cylinder

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Oil Min justifies LPG price hike to spike in global rates

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