By RMN News Service

Consumers across India are facing another blow to their household budgets as state-owned oil marketing companies (OMCs) have announced a hike of ₹50 per cylinder for Liquefied Petroleum Gas (LPG). The price revision, effective immediately, impacts both households using subsidized cylinders under the Pradhan Mantri Ujjwala Yojana and those purchasing non-subsidized LPG.

This latest increase marks a significant upward trend in LPG prices over the past few months, raising concerns about the financial burden on common citizens. The exact reasons cited by the OMCs for this hike were not immediately available, but industry experts point towards a combination of factors including fluctuations in global crude oil prices and geopolitical tensions impacting supply chains.

For beneficiaries of the Pradhan Mantri Ujjwala Yojana (PMUY), who receive a subsidy on their LPG cylinders, this hike will translate to an increase in the amount they pay upfront. While the subsidy amount remains unchanged for now, the base price surge will undoubtedly affect their monthly expenses.

Non-Ujjwala consumers, who purchase LPG at market rates, will directly bear the full brunt of the ₹50 increase. This will further strain the budgets of middle-class and lower-income families already grappling with rising inflation in other essential commodities.

The PMUY beneficiaries will now pay ₹550 per cylinder, up from the previous ₹500. Non-Ujjwala consumers will see an increase from ₹803 to ₹853 per cylinder.

The revised prices will vary across different states and cities due to local taxes and transportation costs. Consumers are advised to check with their local gas distributors for the exact updated rates in their respective areas.

This price hike is likely to trigger reactions from consumer groups and opposition parties, who have been vocal about the rising cost of living. Calls for government intervention to provide relief to households may intensify in the coming days.

The impact of this LPG price hike on household budgets and overall inflation remains to be seen. However, it is certain to add to the financial challenges faced by a significant portion of the Indian population. Industry analysts suggest that monitoring global energy markets will be crucial to understand future price trends for LPG.