LPG cylinder price slashed: Non-subsidized LPG or liquefied petroleum gas prices were reduced by up to Rs 192 per cylinder in metros on Friday. That marked a third consecutive monthly cut in the cooking gas rates. With effect from May 1, the price of non-subsidized LPG was reduced by Rs 162.50 per cylinder (14.2 kilograms) in Delhi and Rs 135.50 per cylinder in Mumbai, data from Indian Oil Corporation showed. Indian Oil – the country’s largest fuel retailer – supplies LPG under brand Indane.
Here are the latest rates of Indane non-subsidised LPG in the four metros:
|City||Price In Rupees Per 14.2 KG Cylinder|
|With Effect From May 1||Existing|
Consumers in Delhi will have to pay Rs 581.50 for a 14.2kg non-subsidized LPG cylinder from Rs 744 with effect from Friday.
Similar price cuts have also been announced for other cities across the country.
However, In Kolkata and Chennai, the LPG rates have been revised lower by Rs 190 and Rs 192 to Rs 584.50 and Rs 569.50 per cylinder respectively.
The rates of the LPG cylinder are revised on the first of every month.
The price of the LPG cylinder had been rising consecutively every month since August last year. This time, LPG price has been cut due to a slump in the global energy market.
Reports of panic buying of LPG cylinders have come in from most parts of the country after the March 25 coronavirus-related lockdown. Retailers have been emphasizing that there is no shortage of LPG cylinders in the country as there is enough stockpile of the gas to meet local demand.
The price of LPG cylinders in India depends on the international benchmark rate of LPG and the exchange rate of the US dollar and rupee.
The central government has started a new Pradhan Mantri Garib Kalyan Yojana (PMGKY) to provide three LPG cylinders free to more than eight crore beneficiaries of the Pradhan Mantri Ujjawala Yojana (PMUY) from April to June this year.
Taking into account the downward revisions in March and April, the price of non-subsidized cooking gas in Delhi has been lowered by a cumulative Rs 277 per cylinder so far. Prior to the current cycle of cuts, the prices were raised in the previous six months.