New Delhi: The price of a 14.2 kg LPG cylinder was raised by Rs 50 on Saturday. With the latest revision, the domestic cylinder will now cost Rs 999.50/cylinder from today, reports said.
Earlier this month, the price of the 19 kg commercial LPG cylinder was increased by Rs 102 to Rs 2,355.5. The price of a 5-kg LPG commercial cylinder was also increased to Rs 655. In the last one year, domestic LPG prices have jumped by nearly Rs 200.
This comes at a time when the retail inflation based on Consumer Price Index (Combined) is likely to have risen up to 7.7 per cent in April on the back of rise in food prices and the full pass-through effect of fuel price hike coming into play, reports said quoting economists.
Geopolitical tensions, heat wave impacting food prices, especially of wheat, along with an overall increase in transportation costs due to fuel price hike have added to the surge in inflation rate, which had risen to a 17-month high of 6.95 per cent in March.