Prices of Subsidised, Non-Subsidised LPG Cylinders increase ahead of Diwali

Indian Oil Corporation (IOC) has informed that the hike in prices of LPG gas cylinder has been due to the international price and currency fluctuation

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Ahead of Diwali, prices of the subsidised and non-subsidised LPG cylinders which are used in every household were increased. The price of the subsidised gas cylinder has been increased by ₹2.94 per cylinder while the price of non-subsidised LPG cylinder has been hiked by ₹60. This hike has come after the change in the basic cost and tax implication on the same. 

Since June this year, the rates of the subsidised cylinder have increased by ₹14.13 and this is the sixth hike in its price. Indian Oil Corporation (IOC) on Wednesday in its statement informed that the price of subsidised LPG cylinder will increase from ₹502.40 to ₹505.34, while the rates of non-subsidised cylinders will be ₹880. These changes are in effect from Wednesday, October 31, midnight. 

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IOC further informed that the hike has happened because of the increase in international price along with the currency fluctuation in the market. 

However, the central government directly transfers the subsidies for 12 LPG cylinders into the consumer’s bank account. With the increase in price, the subsidy amount will also increase from ₹376.60 per cylinder to ₹433.66. 

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