As the flames beneath our kitchen stoves flicker, so does the ever-changing landscape of LPG prices in India. With the recent ₹21 hike in commercial LPG cylinder rates, one can’t help but wonder: Are our kitchen budgets now at the mercy of global market dynamics, or is there a recipe for stability in these price fluctuations? Let’s delve into the intriguing world of LPG pricing.
The recent surge in commercial LPG cylinder prices by ₹21 across various locations in India has sparked concerns among consumers. This move, effective from December 1, follows a series of price revisions by Oil Marketing Companies (OMCs). In November alone, there was a ₹57 decrease on the 16th and a ₹100 hike on the 1st.
While domestic LPG prices for household use remain steady at ₹903 per 14.2-kg cylinder, the 19 kg commercial LPG cylinders now see varying prices across cities. In Delhi, the new price is ₹1796.50, ₹1908 in Kolkata, ₹1749 in Mumbai, and ₹1968.50 in Chennai. This hike comes after a significant increase of ₹209 in October, a period when the government had also slashed prices by ₹158 in September and reduced them by ₹99.75 in August.
The fluctuations extend beyond LPG, with Jet fuel or Aviation Turbine Fuel (ATF) experiencing a 4.6 percent reduction, marking the second cut in a month. State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) regularly adjust cooking gas and ATF prices on the 1st of every month based on the average international prices from the previous month.
However, amidst these changes, there is a silver lining for low-income households. On October 4, the Union cabinet approved an increase in cooking gas subsidies, elevating it from ₹200 to ₹300 per cylinder. This move is expected to benefit approximately 96 million low-income households. Additionally, the government expanded the PM Ujjwala Yojana scheme, aiming to reach 7.5 million more women, totaling 103.5 million beneficiaries over the next three years.
Understanding these price price dynamics requires a lot of expertise and definitely a lot of brainstorming economics path. Consumers never get through all of these as consumers and more concerned about the rates that . Comment your view below and let us know your views.