Gear up for more hikes

With global prices of crude oil touching $60 per barrel, prices of LPG likely to rise further

The report, “Cooking gas, jet fuel prices hiked” (November 2), reveals that the latest increase in prices — by Rs 4.50 per cylinder for subsidised LPG and by Rs 93 per cylinder for non-subsidised LPG — is the 19th hike since July 2016 when the government decided to eliminate subsidy and raise rates every month to contain fiscal deficit. 

The price of non-subsidised LPG has gone up to Rs 742 from Rs 649 while subsidised LPG costs Rs 495.69, up from Rs 490.19. 

With global prices of crude oil touching $60 per barrel, consumers should be prepared for more steep hikes in