“The Retail Selling Price of LPG in Delhi market for the month of May 2020 was reduced from Rs 744 to Rs. 581.50 per cylinder for all consumers in line with the drop in international prices,” said the Indian Oil Corporation Ltd. (IOCL) in a statement.
The statement added that for the month of June, there has been a rise in international prices of LPG. As a result of the increase in the prices in the international market, the RSP of LPG in Delhi market will be increased by Rs 11.50 per cylinder.
After the latest adjustment, a (non-subsidised 14.2 kg Indane) cylinder will now cost Rs Rs 593 in Delhi, Rs 590.50 in Mumbai, Rs 606.50 in Chennai and Rs 616 in Kolkata.
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 June 1 Existing
- Delhi 593.00 - 581.50
- Kolkata 616.00 - 584.50
- Mumbai 590.50 - 579
- Chennai 606.50 - 569.50
The current hike will not have any impact on beneficiaries of Pradhan Mantri Ujjwala (PMUY) because they are covered by the Pradhan Mantri Garib Kalyan Yojana and entitled to a free cylinder till June 30.
Under the Covid-19 relief package, around 83 million below poverty line (BPL) families will be given free cooking gas cylinders for three months under the Ujjwala scheme.
Every month on the first day, fuel retailers revise prices of LPG cylinders, but the price is mostly affected by the international benchmark rate of LPG and the exchange rate of the US dollar and rupee.
The demand for fuels have bottomed out due to Covid-19 induced global lockdown but oil prices have started to recover after it hit a record low. Since the crash in oil prices in April, prices were up in May again, with the international benchmark Brent crude oil trading at $37.84 per barrel. The West Texas Intermediate (WTI) prices also witnessed rally and trading at $35.32 per barrel, after it turned negative in a first in April.