People will have to shell out much more money since the prices of 14.2kg liquefied petroleum gas (LPG) cylinders have been raised by Rs 50 per unit. As per the new prices which are effective from today, i.e., February 15, one needs to pay Rs 769 for 14.2 kg LPG cylinder in Delhi.
This is the second increase in the prices of cooking gas in February. Before this, prices of non-subsidised LPG cylinders were hiked by Rs 25 per cylinder in metro cities on February 4, according to report.
Indian households can buy maximum of 12 LPG cylinders per year at subsidised rates. At the time of purchase, one needs to buy these cylinders at full price and the subsidy later gets credited into the customer’s bank account by the government.
Prices of LPG cylinders in India- cooking and commercial are determined by state-run oil marketing companies (OMCs). The subsidies on LPG cylinders are decided on the basis of fluctuations in average global LPG prices and foreign exchange rate.
A rise in LPG prices comes at a time when petrol and diesel rates are on a rising spree across the country. Rise in the cost of essential fuels may lead to higher inflation and decelerate the pace of economic recovery.
Meanwhile, senior Congress leader and MP from Kerala’s Wayanad Rahul Gandhi also took a jibe at the Centre over rising LPG prices in Delhi and claimed that the Narendra Modi-led NDA government is ‘looting’ from the public. While sharing a newspaper clipping on the hike in LPG cylinder prices, Gandhi tweeted, “Loot from the public, Development of only two” in Hindi.