Rs 15 more to pay for LPG while petrol, diesel prices hit all-time high

New Delhi: The price of widely used cooking gas, LPG, has been raised by Rs 15 per cylinder in the wake of soaring crude prices in the international markets. Global oil prices remained firm with benchmark crude again rising to cross the $82/barrel mark.

Rates of both subsidised and non-subsidised LPG were hiked, taking the total increase in rates since July to Rs 90 per 14.2-kg cylinder. Cooking gas now costs Rs 899.50 per cylinder in Delhi and Mumbai, and Rs 926 in Kolkata, while a 5-kg LPG cylinder now costs Rs 502.

The government has through periodic increases eliminated subsidies on LPG in most cities. Domestic household kitchens, who are entitled to 12 cylinders of 14.2-kg each at subsidised rates in a year, and Ujjwala beneficiaries, who got free connections, now pay the market price.

This is the fourth increase in LPG prices since July. Rates were increased by Rs 25.50 per cylinder in July, followed by Rs 25 hike each on August 17 and September 1.

Meanwhile, pushing prices to all-time high levels across the country diesel prices increased by a sharp 35 paisa per litre in the national capital to Rs 91.42 per litre on Wednesday while petrol prices rose by 30 paise per litre to Rs 102.94 a litre, according to the Indian Oil Corporation, the country's largest fuel retailer.

Prices differ from state to state depending on the incidence of local taxes.

International oil prices rallied to their highest level since 2014, following a decision by OPEC+ to maintain its planned gradual increase of supply, despite the market facing an energy crunch.

Global benchmark Brent jumped to USD 82.92 per barrel, while West Texas Intermediate rose to USD 79.25 a barrel. Being a net importer of oil, India prices petrol and diesel at rates equivalent to international prices.

A month back Brent was around USD 72 per barrel. The price of LPG sold by Saudi Arabia has gone up steeply, from USD 483 a tonne in May, to USD 797 in October

The relentless increase in fuel prices has been criticised by opposition parties who have demanded that the government cut record excise duty on the two fuels to give relief to consumers.

The government has so far not agreed to the demand.