LPG Cylinder Price Cut by Rs 6.52 per Cylinder: Domestic Cooking Gas to Cost Rs 500.90 in Delhi
With the new rates in place, a 14.2-kg subsidised LPG cylinder will now cost Rs 500.90 in the national capital from December 1 as against Rs 507.42 currently.
New Delhi, December 1: In a major relief to people, the price of domestic cooking gas (LPG) was cut by Rs 6.52 per cylinder on Friday. The price cut, which comes after six consecutive monthly hikes in rates since June, is on account of tax impact on the reduced market rate for the fuel. With the new rates in place, a 14.2-kg subsidised LPG cylinder will now cost Rs 500.90 in the national capital from December 1 as against Rs 507.42 currently.
Indian Oil Corp (IOC), the country's largest fuel retailer confirmed the change in the price of the LPG cylinder. "Accordingly, the upfront cash payment by the consumer for the purchase of domestic LPG refill will reduce by Rs 133 cylinder, i.e. from Rs 942.50 per cylinder to Rs 809.50 cylinder in December, 2018 in Delhi market," IOC said. LPG Cylinder Price Hiked by Over Rs 2: Domestic Cooking Gas in Delhi to Cost Rs 507.42, Rs 505.05 in Mumbai.
The price of an LPG cylinder had gone up by Rs 14.13 per cylinder since June before it was slashed on Friday. Subsidised LPG rates were last hiked by Rs 2.94 per cylinder with effect from November 1. Price of LPG to be Increased in Delhi by Rs.1.76 Per Cylinder from August.
All consumers using the LPG cylinder 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. Reports inform that the subsidy amount varies every month depending on the changes in the average international benchmark LPG rate and foreign exchange rate.
(With inputs from PTI)
(The above story first appeared on LatestLY on Dec 01, 2018 10:33 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).