LPG price hike on hold

Nov 02, 2012 |

New Delhi

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Facing stiff opposition, the government on Thursday night put on hold the Rs 26.5 increase in price of cooking gas cylinders that consumers buy beyond their quota of six subsidised bottles.

"The price hike has been put on hold," a top oil company official said declining to give a reason for the same.

The latest increase in non-subsidised cooking gas has been reversed and it will be available at old rates.

The official said there is no change in the decision to hike price of commercial LPG cylinders.

Earlier in the day, the price of LPG cylinders, which consumers buy beyond the cheaper quota of six bottles, was hiked by Rs 26.50 to Rs 922 per unit on firming international rates.

The government had in September restricted the supply of subsidised domestic LPG cylinders to six per household in a year. State-owned oil firms revise rates of non-subsidised LPG on first of every month based on the average imported cost and rupee-US dollar rate during the previous month.

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