New Delhi: Even as domestic LPG prices have been on the upsurge, burdening the common man, an interesting fact to note is that cooking gas rates have been revised an astounding 58 times in the last five years.
According to official data of the Petroleum Ministry, between April 1, 2017 and July 6, 2022 LPG prices rose by 45 per cent through 58 upward revisions.
An LPG cylinder was priced at Rs 723 in April 2017, and by July 2022, rose by 45 per cent to cost Rs 1,053.
At the same time, this hike in cooking gas cylinder price was a huge 26 per cent in the 12 month period between July 1, 2021 and July 6, 2022.
The same LPG cylinder was priced at Rs 834 in July 2021. By July 2022, it’s price surged 26 per cent to touch Rs 1,053.
LPG cylinder prices differ in every state as they depend on value added tax or VAT as well as transportation charges.
They are also calculated on the basis of crude oil prices.
Rising cooking gas prices have burdened the common man even as rising inflation along with rising unemployment have weakened economic growth.