Non-subsidised LPG price hiked by Rs 16.50 per cylinder

Non-subsidised LPG price was hiked by Rs 16.50 per cylinder. Reuters[/caption]With this first hike in six months, each non-subsidised 14.2-kg cooking gas cylinder which customers buy after consuming their current quota of 12 cylinders will now cost Rs 922.50 in Delhi, up from Rs.906, state-run Indian Oil Corp (IOC) said.Allowing for local taxes, the price per cylinder is now Rs 966 in Kolkata, Rs 949.50 in Mumbai and Rs 924 in Chennai.In fact, the hike also marks the reversal of a trend beginning in February that comprised four successive cuts in price in four months. IOC said under-recovery or losses on LPG on account of selling below cost have risen to Rs 449 per subsidised cylinder from Rs 432.71 in the previous month. The loss was Rs 762.50 in January.IANS