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Price of LPG Cylinder Hiked By ₹19

According to Indian Oil, which retails Indian LPG Cylinders, the price of a 14.2 kg LPG cylinder has now been revised to ₹714 in Delhi, ₹747 in Kolkata, ₹684 in Mumbai and ₹734 in Chennai.

Price of LPG Cylinder Hiked By ₹19
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The Liquefied Petroleum Gas (LPG) prices have been hiked by ₹19. According to Indian Oil, which retails Indian LPG Cylinders, the price of a 14.2 kg LPG cylinder has now been revised to 714 in Delhi, 747 in Kolkata, 684 in Mumbai and 734 in Chennai. The rate of the LPG is not just dependent on the international rates, but also on the US dollar-rupee exchange rate. The Indian Rupees ended in 2019 with 2.28 per cent annual loss against the US dollar at 71.36 .

Also Read: Cost Of LPG Cylinder In Mumbai Reduces By ₹62

Fuel retailers sell LPG cylinders at the market price but the government subsidises 12 cylinders each household per year by providing direct subsidy. When international rates move up, the government provides a higher subsidy. But as per tax rules, GST on LPG has to be calculated at the market rate of the fuel. The government may choose to subsidize a part of the price, but tax will have to be paid at market rates. This leads to an increase or decrease in the price of subsidised cylinders.

Notably, Minister for Petroleum and Natural Gas Dharmendra Pradhan had recently stated that owing to government's initiative of giving impetus to LPG in rural areas has resulted in 95 per cent of households in India using LPG. 

Also Read: Price Hike To Be Implemented For LPG Domestic Gas Cylinders

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