The oil marketing companies (OMCs) again hiked the price of Liquefied Petroleum Gas(LPG) domestic gas cylinder (14.2 kg) by Rs 25 per cylinder from Thursday. This is the third hike in February alone. A domestic cooking gas cylinder now costs Rs 794 in Delhi. The cumulative increase in February alone is Rs 100 on a cylinder.
Prior to this, the price of LPG cylinder was hiked on February 14 and February 4. This is the first time in the recent history of India that the cooking gas prices have been increased three times in a month. Since December cooking gas price has been hiked by Rs 200 per cylinder.
The rise in the price of LPG comes at a time when petrol and diesel prices in India have hit the roof. LPG is a byproduct of natural gas and crude oil refining.
The price of LPG gas cylinders is determined by state-run oil companies. It used to be revised on a monthly basis until November 2020. However, in December, the OMCs hiked the price twice. The LPG price depends on factors such as international fuel rates and US dollar-rupee exchange rates. The prices keep going up or down based on these factors.