New Delhi: In a big relief to consumers amid the 21- day lockdown, the Government-owned Indian Oil Corporation Ltd announced on Wednesday a reduction of non-subsidised LPG cylinder prices by Rs 61.5-65 per cylinder (14.2 Kilograms).  Effective from April 1, 2020, the new prices will be:

Delhi- from existing to Rs 805.5 to 744.00

Mumbai- from existing Rs 776.50 to Rs 714.50

Kolkata- from existing Rs 839.5 to 774.50

Chennai- from existing Rs 826 to 761.50

Each household is entitled to 12 cylinders of 14.2 kg each at subsidized rates in a year. Due to the nationwide lockdown due to the coronavirus pandemic, a surge in the demand for cooking gas was observed. In March a price cut of Rs 53 for 14.2 kg cylinder was also announced. This is the second rate cut in two months and it comes after a steep increase in non-subsidised LPG cylinder prices in February by almost Rs 100

The price for LPG cylinders in India is determined by two factors- the international benchmark rate of LPG and the exchange rate of the US dollar and rupee. The fall in the global crude oil prices which have dipped to an 18 year low last seen in 2002 have impacted the prices of fuel