LPG or liquefied petroleum gas prices were hiked on Monday, marking the second increase in prices so far this calendar year. Subsidised and non-subsidised LPG gas cylinder prices in Delhi were revised to Rs 495.86 per cylinder (14.2 kilograms) and Rs 706.50 per cylinder respectively, according to Indian Oil Corporation's website - iocl.com. The new LPG rates took effect from April 1. The new LPG cylinder prices in the national capital meant an increase of 25 paise per cylinder in the price of subsidised and Rs 5 per cylinder in case of non-subsidised LPG compared with the previous month's rates, data from Indian Oil showed.
In Mumbai, the subsidised and non-subsidised LPG cylinder prices were revised to Rs 493.57 per unit and Rs 678.50 per unit with effect from April 1, as against Rs 493.32 per cylinder and Rs 673.50 per cylinder in March respectively, according to the data.
Here are five key things to know about the LPG gas cylinder prices:
1. Before the latest revision, the subsidised and non-subsidised LPG prices in Delhi had been lowered by an overall Rs 5.29 per cylinder and Rs 108 per cylinder respectively so far this year.
2. Currently, the LPG prices are reviewed by retailers on a monthly basis, based on international crude oil and rupee-dollar foreign exchange rates.
3. LPG consumers in the country have to purchase LPG - or cooking gas - at market rates. The government subsidises 12 cylinders of 14.2 kilograms each per household in a year.
4. The amount of subsidy - credited directly to the consumers' bank accounts - varies from month to month.
5. Indian Oil, the country's largest fuel retailer, supplies LPG under brand Indane.
(With agency inputs)