Here are the prices after Cooking Gas and Petrol hike
Cooking Gas and Petrol hike will prove to be heavy on the pockets of the working class. The cooking gas has been hiked by Rs. 50 per cylinder for the 14.2-kg LPG Cylinder. Whereas, the 19-kg LPG cylinder sees a price hike of 19.8% i.e. Rs. 350, from Rs. 1769 to Rs. 2119.
Cooking gas, the common name for LPG (liquefied petroleum gas), is a basic necessity in every household and a lifeline for food in our homes. The price hike came immediately after the conclusion of polls in three northeastern states of Tripura, Meghalaya, and Nagaland.
This has drawn sharp criticism from the opposition. The Congress party took a jibe at Smriti Irani by tweetings this,
(When the price of an LPG cylinder was less than 400 rupees, then Smriti Irani sat on the road with the cylinder. Today the price of a cylinder has crossed Rs 1,100, will she hit the road even today?)
जब LPG सिलेंडर का दाम 400 रुपए से कम था तब स्मृति ईरानी सिलेंडर लेकर सड़क पर बैठ गई थीं।
आज सिलेंडर का दाम 1,100 रुपए से ज्यादा हो गया, क्या आज भी सड़क पर उतरेंगी? pic.twitter.com/wO3cKjuVmE
— Congress (@INCIndia) March 1, 2023
The price, however, will differ from state to state due to the taxation levies of the states.
This hike in the price of the LPG comes eight months after the price was revised in July 2022.
There are three leading LPG providers in India- Indian Oil Corporation (which has the largest market share), Bharat Petroleum Corporation, and HP (Hindustan Petroleum).
Why the hike in prices?
The hike in July resulted from the global tensions between Russia and Ukraine. This had led to an increase in the prices of fuel. To protect the consumers from these volatile global prices, the three OMCs ( Oil Marketing Companies) halted regular revisions. But with rising losses, the OMCs had to take the step to increase prices to recoup their losses.
Read more:- Fall of Adani: From Business Tycoon to Alleged ‘Corporate Conman’
Change in the Price of Fuel
Some respite was seen as the cost of ATF (aviation turbine fuel) was lowered due to international oil prices going down. A 4% reduction was seen in the cost of ATF and this will translate to cheaper airfares. Hopefully, the benefit of this reduction will be passed down to flyers.
However, the prices of petrol and diesel remain unchanged. Petrol, another vital commodity, is now nearly Rs. 100 per litre. A slight hike or reduction may be seen in some places, depending on the taxation charges in that place.
In light of the ongoing inflation in India and all around the world, such changes in prices are bound to happen. It is the duty of the Government to manage these prices, ease inflation and alter monetary policies to suit the common man.
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