Non-Subsidised LPG Price Reduced By Over Rs 100 Per Cylinder From Midnight

Under new rates, the cooking gas in Delhi will be priced at Rs 637 per cylinder from midnight tonight as against Rs 737.50 currently, IOC said in a statement. While the subsidised cooking gas price will be Rs 494.35 per cylinder.

Days ahead of the Budget, the price of non-subsidised LPG was cut by over Rs 100 per cylinder on Sunday. This comes in the wake of softening international rates, Indian Oil Corp (IOC) said. (Getty images)

New Delhi: Days ahead of the Budget, the price of non-subsidised LPG was cut by over Rs 100 per cylinder on Sunday. This comes in the wake of softening international rates, Indian Oil Corp (IOC) said. Under new rates, the cooking gas in Delhi will be priced at Rs 637 per cylinder from midnight tonight as against Rs 737.50 currently, IOC said in a statement. While the subsidised cooking gas price will be Rs 494.35 per cylinder. This is a welcome development for households who use LPG gas cylinders. "The price of non-subsidised LPG in Delhi will decrease by Rs 100.50 per cylinder with effect from July 1 based on LPG prices in international market and US dollar-rupee exchange rate," India Oil said in a statement.

Indian Oil Corporation: As domestic LPG prices are subsidized by the Government, the effective price after subsidy to consumer will be Rs 494.35 per cylinder for the month of July 2019. https://t.co/2YQs6da0Jw

— ANI (@ANI) June 30, 2019

"Accordingly, the upfront cash payment by the consumer of domestic LPG will also reduce by Rs 100.50 per cylinder. Domestic LPG consumer will now be required to make upfront cash payment of Rs 637 per cylinder in place of Rs 737.50 per cylinder," it added. The IOC further said, “As domestic LPG prices are subsidized by the Government, the effective price after subsidy to the consumer will be Rs 494.35 per cylinder for the month of July 2019. The balance amount is borne as subsidy (Rs 142.65 per cylinder) by the Central Government and is being transferred to the Bank account of LPG consumers after purchase and delivery of a refill.”