Indian Oil Corporation released a notification on Thursday, informing that the domestic cooking gas price for subsidised cylinder has been hiked up by Rs 2.08 per cylinder whereas the price for non-subsidised gas has increased by Rs 42.50. The increase in the prices has been made after three straight months of reduction in rates.
IOC in a statement said that the increase in price has been necessitated due to the tax impact on the increased market rate of the fuel. Now, after the price hike, a 14.2-kilogram subsidised LPG cylinder will cost Rs 495.61 as against current price of Rs 493.53 (in Delhi). The prices will come in effect from March 1.
Indian Oil Corp (IOC) in its statement also added that the because of the recent change in international price and foreign exchange fluctuations, non-subsidised or market-priced LPG rates have been hiked by Rs 42.50 per cylinder. The non-subsidised 14.2-kg cylinder in Delhi will now cost Rs 701.50 per cylinder.
Prior to the rate hike, the LPG prices had been reduced by a total of Rs 13.39 per cylinder. IOC, in its statement, also said that the subsidy transfer in March 2019 has been increased to Rs 205.89 per cylinder as against Rs 165.47 in February 2019.
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