Indian LPG cylinder price hike – Withdrawn within hours

Indian LPG cylinder price hike – Withdrawn within hours

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Earlier today reports surfaced that Indian consumers who buy cooking gas after their quota of three subsidized cylinders has been exhausted, will face some financial strains. This financial year, the extra cylinders were going to be dearer by Rs. 26.50 per cylinder due to the hardening of liquefied petroleum gas rates in the International market. However this price rise has been put on hold by the government within hours of declaring the hike. The decision was swayed in the face of protests from the opposition and the fact that two states are going into polls soon.

The government has capped supply of the subsidised cylinders to just six in a financial year. For the current year, the consumers will get just three cylinders at controlled rates which amounts to Rs. 399 per unit. An official said that there is no restriction on the number of non-subsidised cylinders.