On Wednesday, LPG cooking gas prices were once again hiked by Rs 15 per cylinder. On the other hand, the cost of diesel and petrol reached a record high in recent weeks. The country is currently witnessing the steepest rise in prices of petrol, diesel, and cooking gas.
The current rates for a 14.2-kg cylinder went up to Rs 884.50 after they hiked the price of both subsidized and non-subsidized LPG.
According to state-owned fuel retailers, cooking gas LPG is now available at Rs 899.50 per cylinder in Mumbai and Delhi, while the price per cylinder is Rs 926 in Kolkata, which is the highest among the four metro cities.
The subsidies on LPG cooking gas are eliminated by the government in most cities. After the revision of LPG rates, domestic household kitchens, and Ujjwala beneficiaries, pay the market price.
A 5-kg LPG cylinder is priced at Rs 502. This is for the fourth time, since July that the prices are hiked for LPG cooking gas. Rates were hiked by Rs 25.50 per cylinder in July, followed by another hike of Rs 25 on 17th August 17 and 1st September.
Alongside, the price for diesel is raised by 35 paise per liter, and 30 paise per liter for petrol. This is the steepest increase in recent weeks.
In metro cities like Delhi and Mumbai, petrol prices rose to all-time high levels. The price of petrol in Delhi is Rs 102.94 per liter, while in Mumbai, it is Rs 108.96 per liter.
Even diesel reached a record high of ₹99.17 a liter in Mumbai and Rs 91.42 in Delhi.
Prices vary from state to state based on local taxes.
With international Brent crude soaring to $82.92 per barrel, fuel prices are being hiked by a larger proportion.
According to sources said, oil companies have increased the rates to a modest level in the hope of correction in petroleum and crude oil product prices in the international market.
A source informed that oil marketing companies have increased the rates for petrol to a moderate level so far.
India is one of the biggest importers of oil has the prices of diesel and petrol equivalent to international prices.
Just a month back a barrel of Brent was around $72.
The frequent increase in fuel prices has not settled well with the opposition parties as they have demanded the government to cut record excise duty on the two fuels.