Going into detail, the Central government has increased the cooking gas(LPG) prices by Rs 144.5 on every cylinder and the increased price will be effective from Wednesday midnight which was quite impressive.
This hike marks the sixth hike in the fuel prices since September 2019 and Rs 144.50 is the highest increase in the price since January 2014. With the latest hike, the LPG cylinder which is costing around Rs 769 now will be raised to Rs 913.50.
The hike will result in the price increase in Chennai, Kolkata, Mumbai and New Delhi as Rs 881, Rs 896, Rs 829.50 and Rs 858.50 respectively.
The international benchmark rate of the LPG and the exchange rate of the US dollar and rupee plays a key role in the price of the LPG cylinders.