LPG Cylinder Prices to be hiked | Fusion - WeRIndia

LPG Cylinder Prices to be hiked

LPG Cylinder Prices to be hiked

In order to remove the subsidy on cooking gas cylinder, Indian government has ordered to hike the price of cooking gas (LPG) cylinders by ₹4 for every month until March next year or till the government subsidy reduces and reaches to nil whichever is earlier.

Oil Minister Dharmendra Pradhan revealed this matter.

Earlier state-run oil companies like Indian Oil (IOC), Bharat Petroleum (BPCL) and Hindustan Petroleum (HPCL) were asked by the government to raise the prices of cooking gas cylinder by ₹2 per month excluding VAT starting from July 1, 2016.

But, again the government ordered oil companies to raise the prices of gas cylinders by ₹4 per cylinder per month excluding VAT with effect from June 1, 2017.

Since then, the oil companies have been hiking the prices of cooking gas cylinders. So far, it has been done two times and the last time the price hike was done on July 1.

It was raised by ₹32 per cylinder including the Goods and Services Tax (GST). It was the highest hike in a period of six years.

Now, every household is allowed to get 12 cooking gas cylinders per annum at a subsidy rate. If anyone needs beyond that, they need to be buy at a market price.

The price of a subsidy cylinder is ₹477.46 at present in Delhi. It was ₹419.18 in June last year. The price of a non-subsidised LPG cylinder is ₹564.

There are around 18.11 crore customers in the country who use subsidy gas cylinders including 2.5 crore poor women who were given free connections under the Pradhan Mantri Ujjwala Yojna in last year.

Another 2.66 crore users in the country are using non-subsidized cooking gas.

Several opposition parties are protesting the decision of government of eliminating subsidy on cooking gas.

Image credit: Photo by Adli Wahid on Unsplash (Free for commercial use)

Image Reference: https://unsplash.com/photos/9miMlLozv1A

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