LPG Cylinder Prices Cut For The Second Consecutive Month

In its monthly revision, prices of non-subsidized 14.2 kg LPG (liquid petroleum gas) cylinders were cut by an average of Rs 63 on Wednesday by the state-owned Indian Oil Corporation Limited (IOC). This is the second consecutive monthly cut in LPG cylinder rates amid drastic fall in international crude oil prices and comes as a relief to consumers during the 21-day lockdown.

Applicable rates with effect from 1 April 2020 are:

• Delhi – 744 – 805.5 – 61.5
• Kolkata – 774.5 – 839.5 – 65
• Mumbai – 714.5 – 776.5 -62
• Chennai -761.5 – 826 – 64.5

In the previous month, rates of the 14.2 kg LPG cylinders in major Indian cities were cut by an average of Rs 54 while in February there was a sharp increase of over Rs 145, a day after the Delhi Assembly polls.

These rates are set by state-owned oil retailers based on international crude rates and rupee’s exchange rates.

Households in India are allowed a maximum of 12 LPG cylinder purchases per year at subsidized rates. However, cylinders have to be bought at full price at the time of purchase, and the subsidy is then credited to the customer’s bank account by the government.

After Prime Minister Modi announced a 21-day lockdown across the country starting 25 March, demand for cooking fuel increased as many consumers made multiple panic bookings.

IOC has assured that all plants and supply locations are fully operational and that fuel will be supplied to consumers without disruption during the lockdown.

(This is an unedited and auto-generated story and may not have modified or edited by Quickclarity news)

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