Subsidised liquified petroleum gas will be costlier by Rs 1.50 per cylinder, starting Sunday, according to a notification by Indian Oil Corporation. A subsidised LPG cylinder will now cost Rs 491.13 in Delhi.
The price of jet fuel, or aviation turbine fuel, was also hiked by 6% because of rising rates globally. This is the third straight increase in rates since August.
The fuel will now cost Rs 53,045 per kilolitre in Delhi, an increase of Rs 3,025 per kilolitre, according to another IOC notification.
Public sector firms revise the prices of cooking gas and aviation fuel on the 1st of every month according to global prices and the foreign exchange rate.
On July 31, Petroleum Minister Dharmendra Pradhan had asked oil companies to raise the price of LPG by Rs 4 every month to remove all subsidies by March 2018. This is the fifth hike in LPG prices since May this year.