LPG Price Hiked Again: The pocket of the common man has once again got a setback. Oil companies have once again increased the price of domestic LPG gas cylinders. Now the domestic gas cylinder has crossed Rs 1000 in the country. At the same time, apart from domestic LPG, commercial LPG cylinders have also become expensive.
According to the information, today the price of domestic LPG cylinder has increased by Rs 3.50 paise After which the domestic LPG cylinder in the country has crossed 1000. After the increase in the price of domestic gas cylinders, the price of 14.2 kg domestic LPG cylinder has gone up to Rs 1003 in Delhi and Mumbai, Rs 1029 in Kolkata, and Rs 1018.5 in Chennai today.
Apart from domestic LPG, commercial LPG cylinder has also become costlier by Rs.8. From today, a 19 kg cylinder will cost Rs 2354 in Delhi, Rs 2454 in Kolkata, Rs 2306 in Mumbai and Rs 2507 in Chennai. Let us tell you that on May 7, the commercial gas cylinder became cheaper by Rs 10.
Cylinder prices increased twice in May
It is worth noting that earlier on May 7, there was an increase of Rs 50 in the domestic gas cylinder. After this, the price of the domestic gas cylinder reached Rs 999.50. At the same time, earlier the price of the commercial gas cylinder was increased by Rs 102.
This year the price of LPG gas cylinders has increased several times. On April 1, there was an increase of Rs 250 in a 19 kg commercial cylinder. Then its price had gone up to Rs 2253. Earlier, the price of commercial LPG was increased by Rs 105 on March 1, 2022. That is, for the last several months, the vigorous process of increasing the prices of gas cylinders (LPG Price Hike) is going on.
According to the agency, to control rising inflation, the Reserve Bank can increase its interest rate repo rate by 0.75 percent. If the situation becomes serious, the policy rate can be increased by up to 1.25 percent. Apart from this, the cash reserve ratio (CRR) can also be increased by 0.50 per cent to 5 per cent by the end of the current financial year. To control rising inflation, the central bank in May 4 had increased the repo rate by 0.40 percent without a pre-determined schedule. The CRR was also increased by 0.50 per cent to 4.5 per cent.