LPG Cylinder price is likely to hike in Diwali.
By Lokmat English Desk | Published: October 27, 2021 05:46 PM2021-10-27T17:46:12+5:302021-10-27T17:46:50+5:30
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The prices of LPG cylinders (LPG) may increase next week. Meanwhile, after a gap of two days, vehicle fuel prices were hiked again on Wednesday. The price of both petrol and diesel has increased by 35 paise per liter.
In the case of LPG, the under-recovery from sale at a lower cost has reached Rs 100 per cylinder, sources said. Because of this, its prices may go up. Sources said that the government will increase the price of LPG cylinders
Since July, the price of a 14.2 kg LPG cylinder has gone up by Rs 90. Sources familiar with the matter said that public sector petroleum marketing companies have not been allowed to adapt to the retail price.
The loss on LPG sales has reached Rs 100 per cylinder amid rising international prices. While the rate of LPG in Saudi Arabia has jumped 60 percent to 800 per tonne this month,
Another source said, "LPG is a controlled commodity right now. In such a case, technically the government can regulate its retail price. But in doing so, the government will have to compensate the petroleum companies for the loss of sales at a lower cost. "
Eligible families in the country get subsidized LPG cylinders at these rates. In a year they get 12 cylinders of 14.2 kg at subsidized rates. Meanwhile, petrol and diesel prices rose further by 35 paise per liter on Wednesday.
According to the price notification of public sector petroleum marketing companies, petrol in Delhi has now reached Rs 107.94 per liter. In Mumbai, it has gone up to Rs 113.80 per liter. Similarly, diesel in Delhi is Rs 96.67 per liter and in Mumbai, it is Rs 104.
Petrol has already hit a century in all major cities of the country. In more than a dozen states and Union Territories, diesel has crossed Rs 100 per liter. Petroleum marketing companies resumed the hike in petrol prices from September 28.