Govt. authorizes OMCs to increase LPG rates month on month
Posted on: 31/Jul/2017 6:45:18 PM
As a move to bring down the total subsidies in the next year, the government has ordered the state-run oil companies to increase rates of subsidized cooking gas by Rs 4 month on month, said Oil Minister Dharmendra Pradhan. It is to be remembered that the government earlier wanted the Indian Oil, Bharat Petroleum and Hindustan Petroleum to increased price of subsidized LPG cylinder of 142. Kg by Rs 2 per month.
This quantum is now being doubled in order to reduce subsidy. Giving a written reply in this regard, he stated the same. Each and every household is eligible to receive 12 of these 14.2 kg subsidized LPG cylinder in a year. When there is requirement beyond this, one has to buy at market rate.
Starting from 1st July 2016, all the public sector oil marketing companies (OMCs) were given the authority to surge rates of LPG cylinder by Rs 2 every month. Since the same, ten such price hike of LPG cylinders are done.
Now, in this order, the government has authorized the OMCs to furthermore increase the price of subsidized domestic LPG by Rs 4 starting from 1st June 2017 until government subsidy gets reduced.
