LPG prices shot off by Rs. 144.50 per cylinder!

LPG prices

The cost of cooking LPG cylinders has undergone an unprecedented hike of Rs. 144.50 per cylinder. The unusual rise is credited to the revision of the benchmark global fuel prices. A price notification by state-owned oil firms confirmed that per 14.2 kg LPG cylinder will cost Rs. 858.50 now, instead of Rs. 714. This rise is steepest after 2014 when per cylinder prices were increased by Rs. 220 per cylinder. 

The government has done a wonderful job of almost doubling the subsidy which it gives to domestic users. This graceful subsidy rise has left the domestic LPG users unaffected by the dearly rise in the LPG prices. The government has increased the subsidy given to domestic users from Rs. 153.86 to Rs. 291.48, which is almost double. Further, for beneficiaries of Pradhan Mantri Ujjwala Yojana (PMUY), the subsidy has been increased from Rs. 174.86 to Rs. 312.48 per cylinder. After the new subsidy, the domestic users and PMUY beneficiaries will get a 14.2 kg LPG cylinder at Rs. 567.02 and Rs. 546.02 respectively.

In general, the LPG prices are revised at the beginning of every month (1st of every month), but this time it has taken almost two weeks. Industry sources said that the delay in announcement is because the approval required for almost doubling the subsidy payout took time. Many say that the delay could be due to the Delhi assembly elections, which was held on 8th February 2020. 

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