LPG Gas Price Hike: LPG increases pocket concern: Domestic LPG cylinder price increased by Rs 29

LPG Gas Price Hike: Amidst inflation, common consumers have suffered another shock. Government oil marketing companies have increased the prices of 14.2 kg LPG cylinder for domestic use by Rs 29. The new rates have come into effect with immediate effect, which may affect the monthly kitchen budget of lakhs of families.

After the latest increase, the prices of domestic gas cylinders have reached new levels in major metros of the country. Earlier, in the beginning of June, the prices of commercial gas cylinders were also revised.

New prices of domestic LPG cylinders in major cities

Why did prices increase in the middle of the month?

Changes in LPG cylinder prices are usually made on the first or fifteenth of the month. However in recent times oil companies are revising the prices at any time depending on the market conditions and costs. For this reason, the prices of domestic gas have been increased in the first week of June itself.

What is the reason behind the increase?

According to energy sector experts, there are continuous fluctuations in LPG prices in the international market. At the same time, due to providing gas at relatively low prices in the domestic market, financial pressure on oil companies has increased. This revision in prices has been made to reduce this pressure.

Experts believe that even after the previous increase, the companies’ costs were not being covered completely. In such a situation, some part of the loss is expected to be reduced by the new growth.

Common people will be affected

The increase in the price of domestic LPG cylinder will have a direct impact on the monthly expenses of families. Especially middle class and low income group families may have to arrange additional amount in the kitchen budget.

Experts say that if there is further increase in the prices of LPG in the international market, then there may be a change in the prices of domestic gas in the coming time.