Cooking gas, jet fuel prices hiked

Cooking gas, jet fuel prices hiked
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NEW DELHI: Cooking gas (LPG) price was on Wednesday hiked by Rs4.50 per cylinder, the 19th increase in rates since July 2016 when the government decided to eliminate subsidy on it by raising prices every month.
Also, jet fuel or aviation turbine fuel (ATF)’s price was increased by 2% on firming international rates, the fourth straight increase in rates since August, according to price notification posted by state-owned retailers. The price of non-subsidised LPG or market priced cooking gas has been hiked by Rs93 to Rs742 per bottle. At the last revision on 1 October the rate was hiked by Rs50 to Rs649 per bottle.
Subsidised LPG price has been hiked by Rs4.50 per 14.2kg cylinder to Rs495.69. The government last year had asked state-run oil firms to raise prices every month to eliminate all the subsidies by March next year. Since the implementation of the policy of monthly increases from July last year, subsidised LPG rates have gone up by Rs76.51 per cylinder.
A 14.2kg LPG cylinder was priced at Rs419.18 in June 2016. Every household is entitled to 12 cylinders of 14.2kg each at subsidised rates in a year. Any requirement beyond that is to be purchased at market price.
ATF will now cost Rs54,143 per kilolitre (kl) in Delhi, Rs1,098 per kl more than Rs53,045 previously, oil companies said. This is the fourth consecutive monthly hike in ATF price, the last being 6% (Rs3,025 per kl) on 1 October. State-owned oil firms revise rates of LPG and ATF on 1st of every month based on average oil price and foreign exchange rate in the previous month.
Initially, the hike in LPG rate was Rs2 per month which was doubled to Rs3 from May this year. Wednesday’s hike in the LPG price is sixth since the 30 May order of the oil ministry to raise rates by Rs4 per cylinder every month. There are as many as 18.11 crore customers of subsidised LPG in the country. These include over 3 crore poor women who were given free connections during the last one year under the Pradhan Mantri Ujjwala Yojna. There are 2.66 crore users of non-subsidised cooking gas.

 

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