In yet another blow to the common man, the price of subsidised cooking gas (LPG) was hiked by Rs 1.76 per cylinder following tax impact on the change in base price.
In Delhi, with effect from midnight, the subsidised LPG will cost 498.02 per cylinder as against its current rate of Rs 496.26.
Meanwhile, Price of non-subsidised LPG in the national capital will increase by Rs 35.50 per cylinder to Rs 789.5. This comes after the prices of the same were hiked by Rs 55.50 per cylinder in July.
This hikes comes after following the higher global rates.
All LPG consumers have to buy the fuel at market price. The government, however, subsidises 12 cylinders of 14.2-kg each per households in a year by providing the subsidy amount directly in bank accounts of users. The amount varies every month depending on the changes in average international benchmark LPG rate and foreign exchange rate.
Oil firms revise LPG price monthly based on average benchmark rate and foreign exchange rate in the previous month.
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