Chennai: LPG cylinder prices were again hiked by Rs 25 today, in the second such increase in less than four days.
As per the new rates, the price of the LPG cylinder in Chennai now stands at Rs 835. It may be noted that just three days ago, the prices were hiked by Rs 25.
In December, the price of the LPG cylinder was increased twice. On 1 December, its rate was increased from Rs 594 to Rs 644 and then on 15 December, its price was again increased to Rs 694.
Though the prices were not raised in January, on 4 February, its rate was again increased to Rs 719. Within 10 days, the price of LPG was increased by Rs 50 more, taking it to Rs 769.
The State-run oil companies decide the price of LPG gas cylinder. The price is affected by international fuels rates. There are around 30 crore LPG connections in the country.
While the practice of weekly or fortnightly price revision of cooking gas is normally done for non-subsidised cylinders, this year, oil companies have maintained an more or less equal increase in price of subsidised LPG cylinders as well.
This has equated its price with market price of cooking gas and thus helping the government to completely eliminate direct benefit transfer (DBT) benefits extended to consumers.