After petrol and diesel, the government seems to be targeting LPG to, what we believe, fill its treasuries. The price of cooking gas on Monday was once again hiked by Rs 25 per cylinder across all categories, including subsidised fuel and those availed by Ujjwala scheme beneficiaries. This is the fourth increase in rates of the cylinder in a month’s time.
The first hike was announced on February 4 by Rs 25, followed by a price increase of Rs 50 on February 14, then a hike of another Rs 25 on February 25. And now Rs 25 again on March 1.
For the unaware, LPG is available at one rate across India. However, the government gives subsidy on LPG gas to select customers. However, this subsidy has been eliminated in metro cities owing to successive price rise in the past couple of years. Also, in Delhi, no LPG subsidy has been paid to customers since May 2020.
Meanwhile, talking about another hot topic that is petrol and diesel price in the country, the price of the fuels remained the same for consecutive two days on Sunday after touching a record high mark.
Petrol is priced at Rs 91.17 per litre in Delhi and at Rs 97.57 in Mumbai. Diesel comes for Rs 81.47 a litre in the national capital and for Rs 88.60 in Mumbai.
The price hike has to do a lot with the hike in the price of brent crude oil imported mostly from Arab countries. Brent crude oil prices on Monday rose to USD 65.49 per barrel. However, both the Centre and State governments have been charging hefty excise duty and VAT from customers, which is one of the main causes of the price hike.
While petrol and diesel prices are revised on a daily basis, ATF (jet fuel) and LPG rates are revised on the 1st and 16th of every month.