New Delhi: Not just petrol and diesel, the Government dropped another bomb on Wednesday when Petroleum Minister Murli Deora announced a Rs-50 hike in the prices of LPG cylinders.
This comes after Deora announced a new distribution process for LPG – eight gas cylinders per year at current year extra to cost double.
Even though the Prime Minister has said he does not favour going back to the era of blind market controls, Deora indicated there will now be a quota on LPG cylinders.
Deora proposed that people who have LPG connections would get only eight cylinders per year at the current rate, no matter the size of the household. If extra cylinders are required, one would have to pay double the rate.
The move will, in all probability, lead to huge opposition across the country
While the Government is gearing up to take this critical decision, international crude oil prices have continue to fall after touching the peak of above $135 a barrel on May 22.
Crude oil futures dipped below $127 a barrel on Tuesday, despite worries that supplies are barely meeting growing global demand.
Wednesday night will also see Prime Minister Manmohan Singh addressing the nation to explain the reasons for the hike, a second since the year began.
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