Bhubaneswar: With oil marketing companies announcing a hike in prices, the rate of commercial LPG cylinders increased in Bhubaneswar by at least Rs 38 on Sunday.
The rate of a 19kg LPG commercial cylinder was Rs 1,803 in August. It will now cost Rs 1,841 in Bhubaneswar. “The price will vary for different agencies due to the transportation charges. It seems that the cost may be a bit less for Cuttack sales circle,” said Nibedita Naik, owner of Veer Sachi Indane Gas agency in Bhubaneswar’s Chandrasekharpur area.
‘Restaurants in Bhubaneswar may not hike food prices immediately’
The sharp increase in the prices of commercial cooking gas is expected to leave an impact on businesses across sectors, ranging from hotels to restaurants to small-scale industries. However, most restaurants and eateries in Bhubaneswar may not increase their food item rates immediately.
“The price hike will definitely hit the restaurant industry in Bhubaneswar. But, as of now, there aren’t any immediate plans to change restaurant food items rates. Eateries and restaurants will bear the brunt of the situation and incur the losses themselves rather than putting it on the customers. We will observe till the next revision and then decide the later course of action. Restaurants can’t change their menu rates every month,” said Debasish Patnaik, owner of a prominent restaurant in Bhubaneswar.
Rates hiked in all metro cities
The commercial LPG cylinders have turned costlier in other parts of the country as well. In Delhi, the price has been raised by Rs 39, bringing the retail price to Rs 1,691.5.
On August 1, the companies had announced an increase of Rs 8.50 for the 19 kg cylinder across the country. This was effective in metro cities such as New Delhi, Mumbai, Kolkata, and Chennai as well. The price in Delhi had risen to Rs 1,652.50 from Rs 1,646 in August. In Kolkata, the price had increased by Rs 8.50, bringing the cost to Rs 1,764.50 in August. Similarly, the price stood at Rs 1,605 and Rs 1,817 in Mumbai and Chennai respectively.
The August increase came after a reduction of about Rs 30 in July. The price in Delhi was then reduced to Rs 1,646 from Rs 1,676. In Mumbai, it had dropped to Rs 1,598 from Rs 1,629.
In Chennai, the cost was down to Rs 1,809, down from Rs 1,840 in July. In Kolkata, the price was reduced to Rs 1,756 from Rs 1,787 in the same month.
The commercial LPG rate was reduced in June as well. It was decreased by around Rs 69, following a reduction of Rs 19 per cylinder on May 1, in most cities, reported the India Today.
Who announced the revision?
The Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Ltd (HPCL), and Bharat Petroleum Corporation Ltd (BPCL) issue these changes in the price of cooking gas and jet fuel at the start of each month. The LPG cylinder prices are impacted by oil prices at the global level, foreign exchange rates, taxation policies, and dynamics of supply and demand, besides transportation cost.
