:: Technical --- ID :: 17446
LPG cylinder price hiked from today. Latest rates here
LPG cylinder price hiked from today. Latest rates here

LPG cylinder price hiked from today. Latest rates here

NEW DELHI : After three months of consecutive rate cuts, the price of liquified petroleum gas (LPG) cylinders was increased today. "For the month of June, 2020, there has been an increase in international prices of LPG. Due to increase in the prices in international market, the RSP (retail selling price) of LPG in Delhi market will be increased by ?11.50 per cylinder," Indian Oil said in a statement.

Based on the international benchmark rate of LPG and the exchange rate of US dollar and rupee, LPG cylinder rates are revised at the beginning of each month. Ever since August 2019, LPG prices were on an upward journey but as bears took charge in the global energy market due to the global spread of coronavirus and related lockdowns in several countries, LPG rates were cut for three straight months till May.

"The retail selling price of LPG in Delhi market for the month of May 2020 was reduced from ?744 to ?581.50 per cylinder for all consumers in line with drop in international prices," Indian Oil said.

Latest LPG cylinder rates (Indane - non-subsidised 14.2 kg):

Delhi -- Rs 593

Kolkata -- Rs 616

Mumbai -- ?590.50

Chennai -- ?606.50

In February this year, a 14.2 kg non-subsidised LPG cylinder was priced at ?858.50 in Delhi and as compared with today's price, it is cheaper by ?265.50. In recent months, LPG cylinder rate had gone upto ?942.50 (November 2019 in Delhi).

This month's price hike will, however, not impact the Pradhan Mantri Ujjwala (PMUY) beneficiaries, as they are covered by the Pradhan Mantri Garib Kalyan Yojana, and entitled to a free cylinder till June 30th.

The price hike coincides with the reopening of the economy under 'Unlock 1.0' from today. While the sale of petrol and diesel was hit badly till the fourth phase of lockdown which ended yesterday, LPG cylinders remained in demand. In fact, in the first fortnight of May, cooking gas LPG showed a 24% rise in consumption to 1.2 million tonnes as compared with 9,65,000 tonnes in the first half of May 2019.

In the meantime, Bharat Petroleum Corp Ltd (BPCL) customers can now book cooking gas through WhatsApp. The second largest oil marketing company has launched BPCL Smartline number -- 1800224344 -- using which its customers can book LPG cylinders. BPCL is also planning to start LPG delivery tracking service.

Livemint 01-06-2020