Cost of home LPG cylinders has increased by Rs 50 from July 6. For the already troubled common people, this is a bad news as the cost of LPG cylinder more than doubled in past eight years.
According to Indian Oil Corporation (IOCL), the subsidized LPG cylinder price in March 2014 was Rs 410. After the latest increase, the price of 14.2 kg domestic LPG cylinder has increased by Rs 50.
After the latest increase single domestic LPG cylinder will cost Rs 1053 in Delhi. Along with the 14.2 kg cylinder, the price of 5 kg small domestic cylinder has also been increased. Its price has been increased by Rs 18 per cylinder.
In this way, the price of 14.2 kg cylinder for domestic use has increased by about 157 percent in the last 8 years. In the last one year itself, the domestic gas cylinder in Delhi has become costlier by about Rs 219. A year ago its price was Rs 834.50, which has now increased to Rs 1053.
In Delhi, the price of subsidized domestic LPG cylinder as on 01 March 2014 was Rs 410.50. After a year, i.e. in March 2015, its price increased to Rs 610. The next one year benefited from the falling crude prices and in March 2016, the price of domestic cylinder came down to Rs 513.50. In March 2017, their price increased to Rs 737.50. In March this year, their prices were Rs 8. Now the price of a domestic cylinder of LPG is Rs 1053.
What is the subsidy on domestic gas cylinder
From March 2015, the Modi government started the initiative to send the subsidy given on domestic cooking gas directly to the bank account of the beneficiary. People then used to get 12 cylinders every year on subsidy. After the Corona epidemic, the subsidy given on LPG started decreasing. Earlier, the government had started a campaign to voluntarily give up subsidy from the people. However, during the pandemic, the subsidy ended for everyone. Now only those who get the connection under the Ujjwala Yojana are given subsidy on LPG cylinders.
Speaking on crude oil’s impact on LPG prices, Swarnendu Bhushan, senior group VP, oil & gas analyst at Motilal Oswal Financial Services said, “The current Russia-Ukraine geo-political crisis has pushed up oil prices. As a result, LPG prices have also risen in India. Rupee depreciation has added to it. We import 60 percent of our LPG consumption. As soon as oil prices decline, we would expect LPG prices also to cool off.”
TRS Party Tweeted
People are upset over the increase in gas prices by the central BJP government. TRS working president to protest against increased gas prices.
— TRS Party (@trspartyonline) July 7, 2022
According to the given call, the party ranks have taken up large-scale protest programs across Telangana.