(PTI)
After increasing prices of subsidized LPG cylinders by Rs76.5 in 19 instalments in the past 17 months, oil companies skipped the monthly LPG price hike ahead of Gujarat elections. Prices of non-subsidized LPG cylinders, however, were raised by Rs5 per cylinder to Rs747 a bottle on 1 December.
Indian Oil Corp. Ltd, Bharat Petroleum Corp. Ltd (BPCL) and Hindustan Petroleum Corp. Ltd (HPCL) have been since July last year raising LPG prices on the first of every month with a view to eliminating government subsidies on the fuel by 2018. The oil companies however skipped the price hike this month.
“Yes it is true that we have not done a revision in subsidized LPG price this month,” said a top official at one of the three oil companies requesting not to be quoted. “I am not in a position to specify what promoted this (decision). It is a routine management decision.” Asked if the government had asked the oil companies to skip the monthly revision, the official refused to comment. The price of subsidized LPG cylinder was last raised by Rs4.50 per cylinder on 1 November to Rs495.69, according to a price notification issued by state-owned oil companies.
