LPG Price Hike: The prices of LPG cylinders can be increased again next week. The loss on the sale of LPG has increased to Rs 100 per cylinder, due to which this decision can be taken.
New Delhi: LPG Price Hike: Amidst the all-round hit of inflation, the general public may again get a setback. The prices of LPG cylinders (LPG Price Hike) can be increased again next week. Actually, the loss on the sale of LPG has increased to Rs 100 per cylinder, due to which this decision can be taken.
According to the PTI report, sources say that the increase in prices, in which the increase will be, depends on the approval of the government. If this is agreed, then there will be an increase in all categories. These include subsidized gas for household use, non-subsidized gas and industrial sized gas.
Prices were increased on 6 October
It is worth noting that earlier on October 6, the price of LPG was increased by Rs 15 per cylinder. Earlier, after July, the total increase in LPG prices had reached Rs 90 per cylinder. According to a PTI report, state-run oil marketing companies have not been allowed to link the seller price with the cost and no government subsidy has yet been approved to bridge the gap.
Why are the prices increasing continuously?
Actually, the loss on the sale of LPG is increasing continuously. At present, this loss has increased to more than Rs 100 per cylinder. Energy prices are increasing in the international market. Kutch oil is also at a record high of years. LPG prices in Saudi have jumped by more than 60 percent to reach $ 800 a tonne this month.
Government will have to compensate
Currently, the international benchmark Brent crude oil is trading at $ 85.42 per barrel. According to the report, a source said that LPG is still a controlled commodity. So, on technical grounds, the government can regulate the retailer prices. But, when they do, the oil companies will have to compensate for the under-recoveries or losses that they incur by selling LPG at below-priced rates.
The government had ended the subsidy
The government had abolished the subsidy on LPG last year. But in petrol and diesel, where the prices are also increasing every day. However, the government has not made any official announcement regarding the deregulation of LPG price. According to a PTI report, a source said that as of now there is no indication that compensation or subsidy will be rolled back. Because the difference between cost and retail price has increased.
