In more bad news to the common man the price of cooking gas or domestic LPG cylinder has seen a hike of Rs 50 per cylinder. The price increase will affect both the subsidised and the general category.
The rates vary from state to state depending on the local taxes. They were cut last March by Rs 50
In more bad news to the common man the price of cooking gas or domestic LPG cylinder has seen a hike of Rs 50 per cylinder. The price increase will affect both the subsidised and the general category.
For general users, a 14.2 kg cylinder will now cost Rs 853. Cooking gas for Ujjawala users, who get cooking gas at a subsidy, will now cost Rs 553 per cylinder.
The rates vary from state to state depending on the local taxes. They were cut last March by Rs 50.
Only last week, the prices of commercial LPG gas cylinders were cut down by Rs 41. The price reduction had an impact on hotels, restaurants and other commercial enterprises that use such cylinders daily. The price of jet fuel or aviation turbine fuel (ATF) was also recently reduced by 6.1 per cent. However, the price of natural gas produced from legacy oil fields was raised by Rs four per cent last month.
The government has also raised its excise duty on petrol and diesel. However, the price will not be passed on to customers and will be borne by the oil and gas companies.
The excise duty on petrol was hiked to Rs 13 per liter and that on diesel to Rs 10 per liter. According to media reports the increase in duties will come into effect from April 2025.
Normally, any changes in taxes are normally borne by customers. However, in this case, there will not be any change in retail selling price as the excise hike will be set off against the cut in retail prices due to a fall in international oil prices.
India imports more than 60 per cent of the LPG it uses. The price of LPG in the country is linked to its price in the international market. The role of the government is to modulate the price of LPG to set the price for domestic customers of domestic LPG.
The rise in price of LPG affects the middle class and can lead to a rise in inflation.