Business

LPG price hiked by Rs.2, kerosene by 26 paisa

Subsidised cooking gas (LPG) price was on Monday hiked by about Rs 2 per cylinder and kerosene rate by 26 paisa a litre as government looks to eliminate subsidy on the fuel through small hikes.

LPG price in Delhi was hiked by Rs 1.87 per 14.2-kg cylinder to Rs 442.77 per bottle, according to state-owned oil firms.

Oil firms had last raised price of subsidised cooking gas by Rs 5.57 to Rs 440.90 per 14.2-kg cylinder on April 1. This hike came as the state-owned oil firms on previous two occasions -February 1 and March 1 - did not effect any significant raise in prices in view of assembly elections in states like Uttar Pradesh.

Prior to that, they had raised rates by nearly Rs 2 per cylinder for eight months in line with government decision to cut subsidises through calibrated increases every month.
Also, the rate of non-subsidised cooking gas (LPG) was cut by Rs 92 per cylinder in line with international trends.

The reduction comes on back of a Rs 14.50 per cylinder cut on April 1.

Non-subsidised LPG is bought by consumers who have either given up their subsidies or exhausted the quota of 12 bottles of 14.2-kg in a year at below market price.
Subsidised kerosene rate was hiked by Rs 0.26 per litre.

A litre of kerosene now costs Rs 19.55 in Mumbai.

The government is looking at eliminating subsidy on kerosene through small 25 paisa increase every month.

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