In a big relief to consumers, the prices of non-subsidised Liquified Petroleum Gas (LPG) cylinders (14.2 kg) have been slashed by up to Rs 65, according to the state-run Indian Oil Corporation Limited's (IOC) monthly revision released on Wednesday (April 1).
The LPG prices have been slashed considering over 55 per cent decline in global crude oil prices in March. As per India Oil, an LPG cylinder will cost Rs 744 in Delhi from April 1, down Rs 61.5 from the previous month. The price of a non-subsidised LPG cylinder was Rs 805.5 earlier.
The price of 14.2 kg non-subsidised LPG cylinder in Mumbai, Kolkata, and Chennai will be Rs 714.5 (Rs 62 less), Rs 774.5 (Rs 65 decrease), Rs 761.5 (Rs 64.5 less), respectively, from April 1.
It is worth noting that local prices of petrol and diesel remained unchanged across the country for the 16th straight day today (April 1). Since January 11, petrol price has become cheaper by Rs 6.42 a litre and diesel by Rs 6.88 a litre in Delhi.
In March, the price of non-subsidised LPG cylinders was reduced by 53. However, in February, the price of non-subsidised domestic cooking gas cylinders was hiked by Rs 144.50, the steepest since January 2014.
The Centre, however, subsidises 12 cylinders of 14.2 kg each per households in a year by giving the subsidy amount directly in bank accounts of customers.
Furthermore, every month state-run oil marketing companies revise prices of domestic cooking gas. The price of LPG cylinders in India is dependent mainly on two factors—the international benchmark rate of LPG and the exchange rate of the US dollar and rupee.
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