LPG prices go up by Rs 127, more reforms on the way | business | Hindustan Times
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LPG prices go up by Rs 127, more reforms on the way

business Updated: Oct 04, 2012 02:11 IST
HT Correspondent
HT Correspondent
Hindustan Times
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Get ready for a punishing hike in the household budget if you consume beyond the new cap of six subsidised cooking gas cylinders.

Every additional cylinder at non-subsidised rates will now cost Rs 883.5 in Delhi, Rs 894 in Mumbai, Rs 913 in Kolkata and Rs 877.50 in Chennai, sources in the Indian Oil Corporation (IOC) said.

The rates are based on Wednesday’s hike in the price of non-subsidised LPG cylinders by R127 with effect from October 1, citing an increase in international oil prices.

A subsidised cylinder currently costs Rs 399 in Delhi.

Some respite was in store too, with state-owned oil companies likely to cut petrol prices by about Rs 1.60 a litre later this month as the rupee's appreciation against the dollar had helped lower the cost of import, helping the firms make profits.

The price of non-subsidised LPG cylinders will now go up or down every month according to LPG rates in the international oil market. IOC said there would be no restrictions on the number of non-subsidised cylinders used.

In Delhi, the cost of LPG cylinders used by commercial establishments has been revised to Rs 1,062 for a 14.2-kg cylinder and Rs 1,536.5 for a 19-kg cylinder.