File photo Photograph:( Reuters )
Meanwhile, price of non-subsidised LPG in the national capital will increase by Rs 35.50 per cylinder to Rs 789.5.
In yet another blow to the common man, the price of subsidised cooking gas (LPG) was hiked by Rs 1.76 per cylinder, following tax impact on the change in base price.
In Delhi, with effect from midnight, the subsidised LPG will cost Rs 498.02 per cylinder, against its current rate of Rs 496.26.
Meanwhile, price of non-subsidised LPG in the national capital will increase by Rs 35.50 per cylinder to Rs 789.5. This comes after the hike in prices of the same by Rs 55.50 per cylinder in July.
This hikes come following the higher global rates.
All LPG consumers have to buy the fuel at market price. The government, however, subsidises 12 cylinders of 14.2 kg each per household in a year by providing the subsidy amount directly to the bank accounts of users.
The amount varies every month, depending on the changes in average international benchmark of LPG rate and foreign exchange rate.
Oil firms revise LPG price monthly based on average benchmark rate and foreign exchange rate of the previous month.