Non-Subsidised LPG Cylinder Price Slashed By Over Rs 160. Here Are The Latest Prices

Prices of non-subsidised LPG in Delhi is slashed by ₹162.50 a unit taking the price of a 14.2 kg non-subsidised cylinder to Rs 581.50 from Rs 744 earlier,

(Image: PTI)

New Delhi: In a breather for the common man, the price of non-subsidised liquified petroleum gas (LPG) was cut by more than Rs 160 per unit on Friday. It is the third consecutive price cut.  LPG price in Delhi is slashed by Rs 162.50 a unit, which has taken the price of a 14.2 kg non-subsidised cylinder to Rs 581.50 from Rs 744 earlier. While in Mumbai, the LPG cylinder will cost ₹579, as compared to ₹714.50 earlier. In Kolkata, cooking gas fuel rate has been cut by ₹190 to ₹584.50. In Chennai, LPG cylinders will be sold at Rs569.50. The price cut has brought a huge relief to customers who are already reeling under the impacts of Covid-19 that has derailed the economy. Oil marketing companies have enforced similar rate cuts in other parts of the country. The rates of the LPG cylinder are revised on the first day of every month. Although the prices mostly have been looking up since August 2019 before it started falling in the last two months as a result of a downturn in the global energy market owing to the Covid-19 pandemic. There were reports of panic buying of LPG cycilnders in several parts of the country since the lockdown came into force from March 25. Although retailers have assured there is no shortage of LPG cylinders and the stock available is enough to meet the demand. In fact the largest fuel retailer Indian Oil Corp. Ltd (IOC) has witnessed a 20 per cent spike in LPG sales in April. The price of LPG cylinders is majorly affected by two factors — the international benchmark rate of LPG and the exchange rate of US dollar and rupee. Amid the lockdown, the Narendra Modi government has implemented a new Pradhan Mantri Garib Kalyan Yojana (PMGKY) to provide three LPG cylinders free to over 8 crore beneficiaries of the Pradhan Mantri Ujjawala Yojana (PMUY) from April to June this year.