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Priyanka Gandhi targets Centre over rising LPG prices

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Congress leader Priyanka Gandhi on Monday targeted the Union government over the surging prices of LPG cylinders, as well as the surge in inflation, that has affected households across the country.

Priyanka Gandhi took to Twitter on the issue and shared a video of a woman talking about rising cooking gas prices. She said, “Prices continue to rise. No money to fill the cylinder. Businesses are closed. This is the suffering of common women. When will we talk about their pain? Reduce inflation.”

Surge in LPG prices

Last week, domestic cooking gas was increased by Rs 25 per cylinder—the second straight month of increase in rates. Rates were hiked by Rs 25.50 per cylinder on July 1. Subsidised LPG now costs Rs 859 per 14.2-kg cylinder in Delhi. In Mumbai, a 14.2 kg LPG cylinder now costs Rs 859.5, while in Kolkata, it is priced at Rs 886. For people of Chennai, an LPG cylinder will now cost Rs 875.50, up from Rs 850.50.

There is hardly any difference in the rate of subsidised and non-subsidised cooking gas. Industry sources told a news agency that the subsidised LPG price was not raised on August 1 because Parliament was in session and the government could have been attacked by the opposition.

The latest increase in subsidised LPG price now has taken the cumulative rate hike since January 1 to Rs 165 per cylinder. The price of domestic cooking gas has more than doubled in the last seven years. The retail selling price of domestic gas was Rs 410.5 per 14.2-kg cylinder on March 1, 2014.

Oil prices

Due to a stronger dollar and growing uncertainties linked to the COVID-19 pandemic, oil prices declined last week. However, it started rising again on Monday, with the benchmark Brent crude gaining 3.15% on the Intercontinental Exchange Europe and was trading around $67.23 a barrel. The Organisation of Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, has also maintained a tight grip on supplies despite the US government asking it to increase oil production to support global economic recovery.

 

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