Subsidised LPG price hiked by Rs 7, jet fuel by 4 percent
New Delhi: Subsidised cooking gas (LPG) price was today raised by over Rs 7 per cylinder, in line with the government’s decision to hike prices every month so that all subsidises are eliminated by this fiscal-end.
A subsidised 14.2-kg LPG cylinder now costs Rs 487.18 in Delhi as against Rs 479.77 previously, according to Indian Oil Corporation, the nation’s largest fuel retailer.
Petroleum Minister Dharmendra Pradhan had on July 31 told the Lok Sabha that the government had asked state-owned 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.
Every household is entitled to 12 cylinders of 14.2-kg each at subsidised rates in a year. Any requirement beyond that is to be purchased at market price.
The price of non-subsidised LPG or market-priced cooking gas has also been hiked by Rs 73.5 to Rs 597.50 per bottle. Rates were at the last revision cut by Rs 40.
Simultaneously, the oil companies also raised prices of aviation turbine fuel (ATF) by 4 per cent, in keeping with rising global rates.
ATF, or jet fuel, now costs Rs 50,020 per kilolitre, Rs 1,910 more than Rs 48,110 previously. This hike comes on the back of a 2.3 per cent increase effected from August 1.
Also, price of kerosene sold through public distribution system (PDS) was hiked by about 25 paise per litre.
The government is adopting the same policy as in LPG for eliminating subsidy on kerosene. Since July 1 last year, rates have been been hiked by 25 paise per litre each fortnight.
Today’s hike in the LPG price is fourth since the May 30 order of the oil ministry to raise rates by Rs 4 per cylinder every month.