Government may scrap monthly LPG price hike
New Delhi: The government is likely to scrap the monthly increase in cooking gas prices, according to reports on Thursday.
After hiking cooking gas LPG price by Rs 76.5 in 19 instalments in 17 months, national oil companies skipped the monthly revision in rates last month ahead of elections in Gujarat.
Indian Oil Corporation, Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd have been since July last year rising price of LPG on 1st of every month with a view to eliminating government subsidies on the fuel by 2018.
The price of subsidised LPG was last raised by Rs 4.50 per cylinder on November 1 to Rs 495.69, according to a price notification issued by state-owned firms.