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November 30, 2022

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LPG price: Both domestic and commercial LPG cylinders became expensive, in Delhi beyond Rs 1000

2 min read

In the capital Delhi, the LPG cylinder has now crossed Rs 1000. Today, the domestic cylinder of 14 kg has increased by Rs 3.50, while the price of a commercial cylinder of 19 kg has increased by Rs 8.

Oil and gas companies gave another dose of inflation to the common man on Thursday morning. The prices of both domestic and commercial LPG gas cylinders have been increased. Prices have been increased for the second time this month.

In the capital Delhi, the LPG cylinder has now crossed Rs 1000. Today, the domestic cylinder of 14 kg has been increased by Rs 3.50, while the price of 19 kg commercial cylinder has increased by Rs 8.

Most expensive domestic gas cylinder in kolkata
From Thursday, domestic LPG cylinder will be available for Rs 1003 in Delhi, Rs 1002.50 in Mumbai, Rs 1029 in Kolkata and Rs 1018.50 in Chennai. Earlier on May 7, the price of domestic cylinder was increased by Rs 50.

Commercial cylinder costliest in chennai
Now a commercial cylinder of 19 kg will be available for Rs 2354 in Delhi, Rs 2454 in Kolkata, Rs 2306 in Mumbai and Rs 2507 in Chennai. Now the price of domestic LPG cylinder has crossed Rs 1000 across the country. In a year, the price of domestic cylinder has crossed Rs.800 to Rs.1000.

No relief from inflation
On the other hand, India Ratings and Research has said in the report on Wednesday that the continuous rising inflation is not expected to provide relief during the current financial year 2022-23. During this period, the average inflation for the entire financial year is likely to remain at a nine-year high of 6.9 per cent.

Interest rates may increase further
According to the agency, to control rising inflation, the Reserve Bank can increase its interest rate repo rate by 0.75 percent. If the situation becomes serious, the policy rate can be increased by up to 1.25 percent. Apart from this, the cash reserve ratio (CRR) can also be increased by 0.50 per cent to 5 per cent by the end of the current financial year. To control rising inflation, the central bank on May 4 had increased the repo rate by 0.40 percent without a pre-determined schedule. The CRR was also increased by 0.50 per cent to 4.5 per cent.

Supply increased problem in epidemic
Retail inflation remained above 6 per cent till November, 2020, despite reduced demand in the pandemic. One reason for this was the supply side disruption. The report said retail inflation averaged 4.1 per cent for four consecutive years from 2015-16 to 2018-19. After this, for the first time in December 2019, it had crossed 6 per cent, which is more than the upper limit of RBI.

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