Thu. Mar 28th, 2024
gas cylinder

Hiking the prices for second time in last 30 days, government announced that non-subsidized gas cylinder will now cost INR 86 more than the previous price. The price after the latest price hike has become INR 737.50

The latest announcement comes less than a month after the recent hike. Government had hiked the prices by INR 66.5 on February 1. Since October last year, the prices of non-subsidized cylinders have been on a upswing. In 6 installments, the price has been increased by 58 percent. A cylinder, which costed INR 466.50 in September, costs INR 737.50 now, up by INR 271.

The non-subsidized price is applicable to those who have either given up the subsidy or used the 12 cylinder limit of subsidized gas.

Along with the non-subsidized gas, the cylinder with subsidy got a nominal hike of 13 paise following a hike of 9 paise on February 1. The new cost of a subsidized cylinder is INR 434.93

Aviation Turbine Fuel (ATF) was raised by INR 214 per kiloliter and it now costs INR 54,293.38. ATF prices were hiked by 3 percent on February 1st.

Oil companies revise the prices of petroleum products on the 1st of every month depending on the prices on international level. An official statement suggested that the hike in prices is in accordance with the international petroleum rates.

The statement also suggested that the normal consumers will not have any impact on their pockets. They will pay INR 737 for a new refill and will get INR 303 in their bank account as subsidy, so practically, the new price hike will not affect them in any way.

By Prithviraj Singh Chauhan

Part time journalist, full-time observer. Editor-in-Chief at The Indian Wire. I cover updates related to business and startups.

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