OIL & GAS

LPG price hiked again by Rs 25; jet fuel price up 6.5 per cent

Cooking gas LPG price was on Monday hiked by Rs 25 per cylinder across all categories, including subsidised fuel and those availed by Ujjwala scheme beneficiaries – the fourth increase in rates in a month’s time. LPG prices have gone up by Rs 125 per 14.2-kg cylinder since the beginning of February, price data from state-owned oil marketing companies showed.

Also, jet fuel prices were hiked by a steep 6.5 per cent on the back of a rally in international oil prices. A 14.2-kg cylinder in Delhi now costs Rs 819 as against Rs 794 at which they were supplied on Sunday. The increase is applicable across all categories, including subsidised and non-subsidised users.

LPG is available only at one rate, market price, across the country. The government, however, gives a small subsidy to select customers.

However, this subsidy has been eliminated in metros and major cities through successive price increases over the past couple of years. So, in places like Delhi, there is no subsidy paid to customers since May 2020 and all LPG users pay the market price, which currently is Rs 819.

An oil company official said a small subsidy is paid to customers in remote and far-flung areas to make up for the higher price arising from freight charges.

LPG prices were hiked first by Rs 25 per cylinder on February 4, followed by a Rs 50 per cylinder increase on February 15 and Rs 25 raise on February 25.

Prices have been on the rise since December and rates have cumulatively gone up by Rs 175 per cylinder.

Source
ET Energy World
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