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HindustanTimes Thu,25 Dec 2014

LPG price increased, retracted within hours

Anupama Airy , Hindustan Times  New Delhi, November 01, 2012
First Published: 15:10 IST(1/11/2012) | Last Updated: 02:49 IST(2/11/2012)

Following last-minute political diktats, oil companies have been asked to reverse the Rs. 26.50-per-cylinder hike in the price of non-subsidised LPG announced on Thursday ahead of the assembly elections in Himachal Pradesh.

Congress leaders Virbhadra Singh and Digvijaya Singh opposed the proposed price hike.

“We have been asked to reverse the hike in LPG prices from Friday,” IOC director of finance PK Goyal told HT. He refused to give any further details.

Prices of non- subsidised LPG were hiked a month ago by Rs. 127 a cylinder and they already cost more than double the price of subsidised ones, which come for Rs. 410.42 a cylinder.http://www.hindustantimes.com/Images/Popup/2012/11/02-11-12-pg-01b.jpg

Oil companies on Thursday raised non-subsidised LPG prices to Rs. 922 for every additional LPG cylinder beyond the quota of six. IOC said every additional 14.2 kg non-subsidised cylinder beyond the subsidised quota of six will now cost Rs. 26.50 more at Rs. 922 a cylinder from Rs. 895.50 in Delhi.

Last month’s hike in price of non-subsidised LPG has already caused a ripple effect and is hurting those who buy cylinders from the black market.

There are around 30 lakh domestic LPG connections in Delhi.

While the exact consumption of LPG cylinders varies, the average household consumes between six and nine a year. In September, the government restricted the supply of subsidised domestic LPG cylinders to six per household in a year.

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