LPG Cylinder subsidized rate rise 10 rs per cylinder every month depends on the current oil price at global market. Since July 2019 retailers have increased the price of subsidized LPG by Rs.63 per cylinder. since the price hike rate, Rs.100 to 150 could be charged more per cylinder over the next year.
Still, the cost of financed cooking gas rose by a normal of ₹10 per chamber in the July-Jan time of current monetary taking the value paid by regular man for fuel nearer to advertising rates.
Good news for the purchaser is that, with the developments in past few months, the govt. is looking to totally eliminate oil subsidy by early FY22. But for consumers, the move would mean that their cooking gas price would shoot up by another ₹100-150 per cylinder over the next one year.
As per the Sources, govt. may give nod to state-run oil marketing companies to grow price of subsidized LPG cylinder gradually so that entire subsidy paid under direct benefit transfer scheme (DBT) to eligible customer is eliminated in one year’s time.
From July 2019 to Jan 2020, subsidized LPG prices increased Rs. 63 per cylinder by the OMCs. If oil companies lift the rate of subsidized LPG cylinder by Rs.10 per month as per the current worldwide price then there would not be any need to extend Central support after 1 Year.
At the present time, the subsidized price of the LPG Cylinder is (14.2 kg) is around 557 per cylinder and rs. 157 is provided to the eligible customer in their account as a subsidy providing by the govt.The subsidy level may fall if oil prices slide further and remains below $60 a barrel in most parts of FY21.
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