LPG prices raised for third time in Feb; check out latest rates

Prices of liquefied petroleum gas (LPG) have been hiked for the third time on Thursday in the month of February. After a Rs 50 hike, one needs to shell out Rs 769 for a single 14.2 kg non-subsidised cooking gas cylinder in Delhi and Mumbai. A 14.2 kg LPG cylinder costs Rs 795 in Kolkata and Rs 785 in Chennai respectively.

Here are prices of cooking gas cylinder across metro cities effective from February 25

• Delhi: Rs 769

• Mumbai: Rs 769

• Kolkata: Rs 795

• Chennai: Rs 785

Prices of 19 kg cylinders have witnessed a fall as one now needs to pay Rs 1523 for a single 19 kg LPG cylinder in Delhi and Rs 1639 in Chennai after a fall of Rs 10. A single 19 kg cylinder costs Rs 1473 in Mumbai and Rs 1589 after a decline in prices by Rs 9.

Oil marketing companies hiked LPG cylinder prices in December 2020. Prices of LPG cylinders were kept constant in January 2021. Thus, a hike in LPG cylinder prices was expected in February 2021.

Indian households can purchase a maximum of 12 LPG cylinders per year at subsidised rates. One needs to purchase these cylinders at full price and the subsidy later gets credited into the customer's bank account by the government.

State-run oil marketing companies (OMCs) decide the price of LPG cylinders on the basis of the foreign exchange rate and global oil prices.

Global oil prices hit a 13 month high on Thursday due to lower crude production in the US. Brent crude futures rose by 19 cents to $67 per barrel whereas US West Texas Intermediate (WTI) rose by 8 cents to $63.30 per barrel, Reuters reported.

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