The price of subsidised cooking gas was raised by Rs 2.71 per cylinder as a result of tax impact of base price rising due to spurt in international rates and fall in rupee. Subsidised LPG cylinder (with effect from July 1) will now cost Rs 496.26 in Delhi, according to the details given on Indian Oil Corp (IOC) website. Consumers are given a facility of availing 12 subsidised cylinders. buy non-subsidised or market price LPG after exhausting their quota of 12 subsidised cylinders of 14.2-kg each.
The price of non-subsidised LPG at Delhi will increase by Rs 55.50 per cylinder.
Cooking Gas Prices Raised. Five Things To Know
1. Oil firms revise LPG price on the first of every month based on average benchmark rate and foreign exchange rate in the previous month.
2. The price at which a subsidised LPG cylinder will be available is Rs 496.26. In Mumbai, the price will be Rs 494.10.
Latest LPG Cylinder Prices (July 1 onwards)
3. The earlier prices in Delhi, Kolkata, Mumbai and Chennai were Rs 493.55, Rs 496.65, Rs 491.31 and Rs 481.84, respectively.
4. It is noteworthy that the LPG prices were cut down in the month of April by Rs 1.74 in Delhi per cylinder. “The increase is mainly on account of GST on revised price of Domestic Non-Subsidised LPG,” the statement said.
LPG Price Hikes This Financial Year
5. The price hike in non-subsidised cylinder is Rs 55.50. As a result of higher global rates, the price of Non-Subsidised LPG at Delhi will increase by Rs 55.50 per cylinder. “The balance Rs 52.79 (Rs.55.50 minus Rs.2.71) is being compensated to the customer by increase in subsidy transfer to their bank account. Accordingly, the subsidy transfer in customer’s bank account has been increased to Rs 257.74 per cylinder in July 2018 as against Rs 204.95 per cylinder in June 2018. Thus the domestic LPG customer is protected against the increase in international prices of LPG,” the statement said.