• Wed. Feb 28th, 2024

Hyderabad, July 6 (Hydnow): IT Minister KT Rama Rao on Wednesday lashed out at the union government for the hike in the domestic Liquid Petroleum Gas (LPG) prices.

“#AchheDin Aa Gaye Badhai Ho #LPG over ₹1050 An increase again of ₹50 Modi Ji’s Gift to all Indian Households,” tweeted by KTR in a sarcastic tone.

Meanwhile, adding to the worries of a common man dealing with inflation, the national oil marketing companies increased the price of 14.2-kg cylinder by ₹50, with the immediate effect from Thursday.

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This is the eighth straight increase in LPG prices since July 2021. Price of a 5 kg domestic cylinder had gone up by Rs 18 per cylinder.

Note that LPG cylinder prices vary from State to State depending on the VAT and transportation costs of the region. It is also calculated on the basis of crude oil prices. Retailers revise LPG cylinder prices at the beginning of each month keeping in line with global crude oil prices. The rising rates of crude oil globally has prompted State-owned fuel retailers to hike LPG prices.

Prices vary across cities and in Hyderabad has raced past the ₹1,100 mark. As against ₹1,055 they paid since May 19, households in Telangana’s capital will have to shell out ₹1,105 per cylinder now.

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The latest hike in domestic cooking gas prices comes months after Finance Minister Nirmala Sitharaman had in May stated that Ujjwala scheme beneficiaries will get Rs 200 per cylinder subsidy for 12 times in a year to help ease some of the burden arising from cooking gas rates rising to record levels. (Hydnow)


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