The price of commercial liquefied petroleum gas cylinders was on Sunday hiked by Rs 25, Mint reported.
A 19-kg LPG cylinder will now cost Rs 1,769 in Delhi. In Mumbai, cylinders will now cost Rs 1,721, while in Kolkata they will cost Rs 1,870. In Chennai, these cylinders will cost Rs 1,971.
The Congress on Sunday described the move as the Modi government’s “new year gift” to the Indians. “This is just the beginning,” the party wrote on Twitter.
Prices of LPG cylinder are decided in tune with crude oil rates in the international markets and exchange rate between the Indian rupee and the US dollar.
India’s retail inflation came down to 5.88% in November from 6.77% in October. Retail inflation had been above the upper-end of the central bank’s 2%-6% tolerance band since January. It had reached an eight-year high of 7.8% in April.
The Reserve Bank of India has raised the repo rate by 225 basis points, or 2.25%, since May to rein in inflation. The repo rate is the interest rate at which the central bank lends money to commercial banks.
Limited-time offer: Big stories, small price. Keep independent media alive. Become a Scroll member today!
Our journalism is for everyone. But you can get special privileges by buying an annual Scroll Membership. Sign up today!