LPG Domesic prices has been hike by Rs 50 by State Oil Companies. The hike in LPG Domestic prices will become effective immediately, and the common person will have to shell out an extra Rs 50. Last month there was no increase in Domestic Gas, but in March, the oil companies hiked the prices by Rs 50. The war in Ukraine and the move by the EU and the US to ban Russian Gas have led to a steep surge in world gas and crude prices.
The commoner will bear the brunt of the latest hike in LPG prices. Last month the Oil Companies had increased the prices of Commercial Gas by Rs 100. The LPG commercial prices were hiked in March also. The prices of LPG Domestic in the National capital will be 999.50 per cylinder, up from Rs 949.50 earlier.
LPG Prices Was Hiked In March
LPG cylinder prices had remained constant for some time. This was probably due to the State Assembly election in five states. As a result, the State Oil companies were incurring huge losses. However, the elections are now over, with the BJP winning in four states except Punjab, where the Aam Aadmi Party swept the polls. Therefore, the Government had to augment the price to keep it at par with the World Crude prices, surging since the war in Ukraine.
LPG Commercial Is Also Getting Expensive
After increasing the prices of LPG Domestic in March, The Government turned its attention to LPG Commercial, which was raised twice. On April 1, the commercial cylinder prices were increased by a whopping Rs 249.50. As a result, 19 kg commercial gas prices in Delhi reached Rs 2253. On May 1, the prices again increased by Rs 104 per cylinder. Today the cost of an LPG Cylinder in Delhi is Rs 2,355 per cylinder.
While gas prices continue to rise, the central Government is on a PPP model to meet its target of gasifying 100 million tonnes of coal in the next eight years by the end of this decade to promote clean energy.
