Ukraine-Russia War: Cooking Oil, Diesel and LPG Prices Skyrocket

After the central government hiked the price of liquefied petroleum gas (LPG) by Rs 50 per cylinder on Tuesday, a household cylinder in Hyderabad would now cost Rs 1002. In the city, an LPG residential cylinder costs Rs. 952. For the first time since assembly elections in five states, the Centre has decided to hike the price of petrol and diesel by 60 paise per litre across the country.

The price increase comes after nearly six months of stable pricing, with the latest price increase for LPG cylinders recorded in October 2021, when a domestic LPG cylinder cost Rs. 952 in Hyderabad. Since January 2021, the price of domestic LPG cylinders has risen by Rs 256. On January 1, last year, an LPG cylinder in the city was priced at Rs 746.50. Despite an increase in the cost of raw materials, prices remained stable for nearly six months. There are currently around Rs 30 crore LPG gas cylinder connections in India. Every year, the government provides a family with 12 subsidised LPG cylinders weighing 14.2 kilos. The amount of the government's subsidy on the yearly quota of 12 refills varies from month to month.