LPG prices go up for second consecutive month: Here is what a gas cylinder will cost now

Cooking gas just got more expensive. The rate of non-subsidised liquefied petroleum gas (LPG) cylinder, which is used for cooking, was hiked for the second consecutive month on Wednesday (July 1) in line with a rebound in global prices. The new prices were notified by the Indian Oil Corporation. However, the latest hike is marginal. The new prices come into effect from July 1, 2020.

State-controlled Indian Oil's non-subsidised 14.2 kg cylinder will cost Rs 594 in both Delhi and Mumbai from July 1. The price has been raised by mere Re 1 in Delhi, the price jump in Mumbai is Rs 3.5 a cylinder.

Aviation turbine fuel (ATF) price was hiked by Rs 2,922.94 per kilolitre (kl), or 7.48 per cent, to Rs 41,992.81 per kl in the national capital, according to a price notification by state-owned oil marketing companies.

This is the third straight increase in ATF prices in a month. Rates were hiked by a record 56.6 per cent (Rs 12,126.75 per kl) on June 1, followed by Rs 5,494.5 per kl (16.3 per cent) increase on June 16.

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Last month, the government had hiked the LPG prices as well. The price of non-subsidized liquefied petroleum gas (LPG) cylinder in Delhi was increased by Rs 11.50 for an Indane gas cylinder.

"For the month of June 2020, there has been an increase in international prices of LPG. Due to the increase in the prices in the international market, the RSP of LPG in Delhi market will be increased by Rs 11.50 per cylinder,” the Indian Oil Corporation had said on its website.

The fuel retailers revise prices of LPG cylinders on the first day of every month. The price is primarily dependent on the international benchmark rate of LPG and Dollar-rupee exchange rate.

In May, customers got a major relief when the Retail Selling Price (RSP) of LPG in Delhi market was reduced from Rs 744 to Rs 581.50 per cylinder for all consumers in line with a drop in international prices.