LPG Cylinder Prices Hiked By Rs 15/Cylinder, 4th Hike in 4 Months

DY365
DY365
Published: October 6,2021 12:16 PM
DY365

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This is the 4th hike in 4 months since July this year. In July prices were raised by Rs 25/cylinder. In Aug, it was raised by another Rs 25/cylinder and in Sept cylinders got costlier by Rs 25 each.

October 6, 2021: Prices of LPG cylinder have been hiked for the fourth time in four months. Price of LPG cylinder has been raised by Rs 15 per cylinder from today, October 6. Now a 14.2 kg domestic gas cylinder would cost Rs 948.50 in Guwahati. Price of LPG cylinder has been hiked to reflect the rising international crude prices.



This is the fourth hike in four months since July this year. In July prices were raised by Rs 25 per LPG cylinder. In August, prices were raised by another Rs 25 per cylinder and again in September LPG cylinders got costlier by Rs 25 each. Since July till October, LPG cylinder prices have gone up by Rs 90 a cylinder.





The price of LPG is decided based on an import parity price (IPP) formula, which is based on international product prices. Saudi Aramco’s contract prices are considered a benchmark for this calculation. The IPP formula includes Saudi Aramco’s LPG prices, free-on-board price, ocean freight charges, customs duties and port dues.



Local freight charges, bottling charges, marketing costs, margins for OMCs, dealer commissions and Goods and Services Tax are also factored in before determining the final LPG retail price in India. In addition, currency fluctuations also affect prices.



The hikes in LPG prices have come along with a hike in prices of petrol and diesel for the second straight day. Petrol prices have been raised by 30 paise a litre and diesel by 35 paise a litre. Yesterday petrol prices were raised by 25 paise a litre and diesel by 30 paise a litre.