In line with global trends, Oil Marketing Companies (OMCs) have hiked non-subsidized or market-priced domestic cooking gas (LPG) by Rs 86 per 14.2-kg bottle. The steepest hike in India's history, comes on the back of Rs 66.5 per cylinder increase effected from February 1. Rates have been on the upswing since October, 2016.
Following the hike, non-subsidised cooking gas (LPG) now costs Rs 737.50 per cylinder. It was priced at Rs 651.50 per 14.2-kg cylinder till February 28. The oil firms also raised the price of subsidised cooking gas by a marginal 13 paisa to Rs 434.93 per 14.2-kg cylinder. This follows a 9 paise increase effected from February 1. Prior to these two marginal price hikes, subsidised cooking gas rates had gone up eight times of nearly Rs 2 per cylinder each. Similarly, the firms too hiked the prices of the Jet fuel or aviation turbine fuel (ATF) by a marginal Rs 214 per kilolitre (kl) to Rs 54,293.38 per kl. The increase comes on back of a 3 per cent hike on February 1.
State-owned fuel retailers, Indian Oil Corp (IOC), Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) revise jet fuel and non-subsidised LPG prices on the first of every month based on average imported cost and rupee-dollar exchange rate.