LPG
Representative image.

On Monday, day one of Unlock 1.0, the Central Government has hiked the price of LPG cylinders.

The hike came after three months of consecutive rate cuts.

“For the month of June, 2020, there has been an increase in international prices of LPG. Due to an increase in the prices in the international market, the RSP (retail selling price) of LPG in Delhi market will be increased by Rs 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.

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

Delhi – Rs 593

Kolkata – Rs 616

Mumbai – Rs 590.50

Chennai –Rs 606.50

In February this year, a 14.2 kg non-subsidized LPG cylinder was priced at Rs 858.50 in Delhi and as compared with today’s price, it is cheaper by Rs 265.50.

In recent months, LPG cylinder rate had gone up to Rs 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 30.

While the sale of petrol and diesel was hit badly till the fourth phase of lockdown which ended on Sunday, LPG cylinders remained in demand.

NE NOW NEWS

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