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Price of non-subsidised LPG cylinders slashed by over Rs 160
Vadodara News Network May 01, 2020
A 14.2 kg LPG cylinder will now cost Rs 581.50 in Delhi, down from Rs 744 till Thursday, as per the price notification issued by state-owned oil firms. In Mumbai, it will now be available for Rs 579 per cylinder.
The price of non-subsidised LPG or market-price cooking gas was cut by over Rs 160 per cylinder on Friday.
Non-subsidised LPG price was cut by a record Rs 162.50 per cylinder in the wake of a slump in benchmark international rates due to falling oil demand.
A 14.2 kg LPG cylinder will now cost Rs 581.50 in Delhi, down from Rs 744 till Thursday, as per the price notification issued by state-owned oil firms. In Mumbai, it will now be available for Rs 579 per cylinder, compared to Rs 714.50 earlier.
This is the third straight monthly reduction in rates of non-subsidised LPG cylinders. It is also the steepest reduction in non-subsidised LPG price ever, beating the previous highest reduction of Rs 150.50 per cylinder in January 2019.
The fresh rate reduction comes after a Rs 61.50 per cylinder price drop in April and a cut of Rs 53 in March. Therefore, non-subsidised LPG prices have fallen by Rs 277 per 14.2 kg cylinder in the last three months, negating the Rs 144.50 per cylinder hike announced in February.
It is worth mentioning that state-owned oil marketing companies or OMCs revise the price of cooking gas on the first day of every month after taking into account the average of benchmark fuel in the international market and also the foreign exchange rate.
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