Hindustan News 02/09/2016

The price of subsidized cooking gas (LPG) was hiked by about Rs 2 per cylinder on Thursday , while jet fuel price was cut by 3.8%.

A subsidized 14.2-kg cylinder will cost Rs 427.06 in Kolkata as against Rs 425.09 previously , according to state-owned oil firms.

This is the third increase in subsidized cooking gas since July , when the government decided to go in for a small hike in rates every month to cut down on subsidies.

LPG rates were last hiked by Rs 1.93 per cylinder on August 16. Prior to that, rates were hiked by Rs 1.98 on July 1.

The government decided to take the diesel route to eliminate subsidies on LPG and kerosene. Diesel price was deregulated in November 2014 after the UPA government effected 50 paise hikes every month to eliminate subsidies.

The government has allowed state-owned oil companies to raise the price of kerosene by 25 paise each month for 10 months. A litre now costs Rs 17.3 in Kolkata.

Hindustan News 02/09/2016: http://epaper.livehindustan.com/