The Indian government has increased the price of subsidized cooking gas (LPG) by Rs. 2 per cylinder and kerosene oil by Rs. 0.26 per liter. This price hike is a part of the subsidy elimination program. State-owned oil firms have increased the price of LPG by Rs. 1.87 per 14.2-Kg cylinder. It costs now Rs. 442.77.
Earlier, the price of this gas was increased by Rs. 5.57 costing Rs. 440.90 per 14.2-Kg cylinder. One thing is worth mentioning here. The companies had not raised the prices on January 1st or on February 1st. This was due to the general elections in some states.
The Indian government had decided to eliminate subsidy through a little price increase every month. As a result, the companies will raise the prices every month.
On the other hand, the rate of non-subsidized cooking gas (LPG) has dropped by Rs. 92 due to the decrease in the international rate. The fuel prices were also lowered on April 1st and LPG got a price cut of Rs. 14.50 per cylinder. This non-subsidized gas is available for those who have given up their subsidized package or have exhausted the quota of 12 cylinders of 14.2-kg in a year.
The government is also planning to increase the price of Kerosene Oil by Rs. 0.25 per month. The subsidy on Kerosene will be lowered with time and will be eliminated eventually. Similarly, the subsidy on Jet fuel (ATF) also got a cut of 0.4 percent reaching Rs. 51696 per kiloliter. The cut was 5.1 percent on April 1st.