Subsidised cooking gas (LPG) price Wednesday was hiked by Rs 2.94 per cylinder due to tax impact on the change in base price. A 14.2-kg subsidised LPG cylinder will cost Rs 505.34 from midnight tonight as against Rs 502.40 now, Indian Oil Corp (IOC), the nation’s biggest fuel retailer, said in a statement here. This is the sixth straight monthly increase in rates since June. In all rates have gone up by Rs 14.13 per cylinder since then. All LPG consumers have to buy the fuel at market price. The government, however, subsidises 12 cylinders of 14.2-kg each per households in a year by providing the subsidy amount directly in bank accounts of users.