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Trouble For Household Budgets: Cooking Gas Price Hiked Again

LPG value hiked by Rs 50; charges up by Rs 244 in a single yr

New Delhi:

Cooking fuel LPG value on Wednesday was hiked by Rs 50 per cylinder, the eighth enhance in charges within the final one yr that took the cumulative rise to Rs 244.

Non-subsidised LPG now prices Rs 1,053 per 14.2-kg cylinder within the nationwide capital, up from Rs 1,003 beforehand, in line with a value notification of state-owned gas retailers.

Firming worldwide power costs have led to non-subsidised cooking fuel (LPG) costs being elevated on eight events prior to now yr. In all, charges have gone up by Rs 244 per cylinder or 30 per cent.

Frequent households pay non-subsidised charges for the cooking fuel they purchase after the federal government restricted subsidy to simply poor beneficiaries who obtained connections underneath the Ujjwala scheme.

That is the fourth enhance within the LPG charge because the Ukraine battle. The worth was hiked by Rs 50 per cylinder on March 22 and once more by the identical quantum on Might 7. Charges went up by Rs 3.50 per cylinder on Might 19.

Of the Rs 244 per cylinder hike prior to now yr, Rs 153.50 enhance occurred since March 2022.

Opposition Congress termed the rise “anti-people” resolution and requested if that is the “price” of toppling the Maharashtra authorities.

In a tweet in Hindi, Congress common secretary Priyanka Gandhi Vadra mentioned the BJP spoke of the welfare of the poor at its nationwide govt assembly whereas imposing a 5 per cent “Gabbar Singh Tax (GST)” on flour, cereals, curd and paneer, after which broke the again of the poor and center class by growing the value of home cooking fuel by Rs 50.

Petrol and diesel costs, nevertheless, proceed to be on freeze for the third straight month. The pause adopted charges being hiked by a report Rs 10 per litre in a matter of 16 days starting March 22.

In Might, the federal government lower excise responsibility on petrol by Rs 8 per litre and diesel by Rs 6 per litre to chill hovering inflation.

At the moment, the federal government additionally acknowledged that Rs 200 per cylinder subsidy on cooking fuel shall be restricted to solely 9 crore poor ladies and different beneficiaries who obtained free connections underneath the Ujjwala scheme and the remaining customers together with households can pay the market value (also called non-subsidised charge).

Initially, non-subsidised cooking fuel was the one that buyers used to purchase after exhausting their quota of 12 cylinders at subsidised or below-market charges. Nonetheless, the federal government stopped paying subsidy on LPG to households in mid-2020.

Non-subsidised LPG prices Rs 1,052.50 per 14.2-kg cylinder in Mumbai, whereas it’s priced at Rs 1,079 a bottle in Chennai and Rs 1,068.50 in Kolkata.

Charges differ from state to state relying on the incidence of native taxes akin to VAT. Costs are greater in states with greater taxes.

Alongside, oil corporations additionally decreased the value of business LPG cylinders — those utilized by institutions like motels and eating places. It now prices Rs 2,012.50 per 19-kg cylinder within the nationwide capital, down from Rs 2,021 per cylinder.

Business sources mentioned that industrial LPG costs have been virtually aligned with price whereas the cooking fuel used within the family kitchens was being offered at a reduction.

The discount in industrial LPG charges displays softening in Saudi CPP costs whereas home LPG charges are being adjusted upwards to align them nearer to price.

Home LPG charges are about Rs 300 in need of their precise price.

Worldwide oil costs have been on the rise this yr. They jumped to a 13-year excessive of $140 per barrel in March earlier than shedding a few of the beneficial properties. Brent was buying and selling at $103.92 per barrel on Wednesday.

To compound issues, the Indian rupee tumbled to Rs 79.24 to a greenback, making imports costlier.

India depends on abroad purchases to satisfy about 85 per cent of its oil requirement, making it one of the crucial weak in Asia to greater oil costs.

Whereas India has surplus oil refining capability, it doesn’t manufacture sufficient LPG to satisfy home demand and imports important portions from nations akin to Saudi Arabia.

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