The Indian Oil Corporation (IOC) announced that the prices of non-subsidised liquefied petroleum gas (LPG) cylinders across the country will increase by Rs 50. This is the first time in five months that the prices of non-subsidised LPG gas cylinders have seen a spike.
The price of LPG gas cylinder is determined by the state-run oil companies and is revised on a monthly basis. The last time when the rates were changed was in July.
With this hike, 14.2 kilograms of non-subsidised LPG cylinder will cost Rs 644 in Delhi for the month of December. In Kolkata, it will cost Rs 670.50 while it will be available in Mumbai at a price of Rs 644. In Chennai, a 14.2 kilograms of non-subsidised LPG cylinder will cost Rs 660 now.
Households in India are allowed a maximum of 12 LPG cylinder purchases per year at subsidized rates. Cylinders have to be bought at full price at the time of purchase, and the subsidy is then credited to the customer's bank account by the government.
However, most customers have not received subsidies since May, as the combination of international oil price collapse and domestic refill rate increase diminished the gap between subsidised and market rates.
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