Cost Of Domestic LPG Cylinder To Reduce From April 1: Indian Oil Corporation
"The price of Domestic LPG cylinder has been reduced by Rs 10/cylinder from Rs 819/cylinder to Rs 809/cylinder at Delhi effective 1st April 2021," the statement informs.
New Delhi: Indian Oil Corporation Limited on Wednesday announced that the cost of Domestic LPG cylinders will be reduced by Rs 10 per cylinder from April 1.
The Corporation has released a statement to announce the decision. It began with elaborating on the earlier market conditions: "Prices of crude oil and petroleum products in the international market have been on a constant uptrend since November 2020. As India largely imports dependent on crude oil and the prices are market-linked, the increase in international prices resulted in an increase in the domestic price of petroleum products".
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Stating the reason for the decrease in price, the corporation stated: "Due to growing worries about rising Covid-19 cases in Europe and Asia and concerns over the side effects of vaccines, prices of crude oil and petroleum product in the international market softened in the second fortnight of March 2021".
"Accordingly, Oil Companies have reduced the Retail Selling Price (RSP) of Diesel and Petrol by 60 paise per litre and 61 paise per litre respectively at Delhi market over the past few days. There was a corresponding reduction in prices at other markets during this period. This reduction has come as a relief to motorists and transporters across India," it added.
So to provide some relief to the consumers, the price of Domestic LPG cylinders has been reduced by Rs 10 per cylinder. So the price will go down from Rs 819/cylinder to Rs 809/cylinder in Delhi from April 1. The same reduction will be carried out in other markets as well.
The price hike of Rs 50 for domestic LPG cylinders in February this year had garnered a lot of criticism and debate with questions being raised against the central government's especially with opposition leaders digging out old statements of BJP leaders.
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