Oil companies on Tuesday announced a steep hike in the price of non subsidised domestic LPG cylinder by Rs 94 and the subsidised domestic LPG cylinder has been hiked by Rs 4.56. The new price of LPG cylinder will be applicable from Wednesday.
After the recent hike, a 14 kg domestic LPG cylinder will cost Rs 743 per cylinder. Correspondingly, the 19 kg commercial cylinder will now cost Rs 1268 in the capital.
The price of subsidised domestic LPG cylinders has been hiked by Rs 4.56 per cylinder. The effective price of a 14 kg domestic cylinder will come for Rs 495.69. Earlier price of Rs 491.13 per cylinder.
The unprecendent hike comes exactly two months after the Oil Minister Dharmendra Pradhan told Lok Sabha that the government has asked state-run oil companies to raise subsidised cooking gas (LPG) prices by Rs 4 per cylinder every month to eliminate all the subsidies by March next year.
State-owned oil firms revise rates of LPG and ATF on 1st of every month based on average oil price and foreign exchange rate in the previous month.