In what comes as a great relief for households in India, the price of non-subsidised cooking gas (liquified petroleum gas) has been slashed by Rs 100.50 per 14.2 kg cylinder with effective from Monday, i.e. July 1, 2019, across the country. The price cut comes following the falling rates in the international market and the strengthening rupee against the US Dollar.
"The price of Non-Subsidised LPG at Delhi will decrease by Rs 100.50 per cylinder w.e.f. 1st July 2019, due to fall in price of LPG in international market and strengthening of US$-rupee exchange rate," Indian Oil Corporation (IOC) said in a statement.
Therefore, domestic LPG consumers would now have to pay Rs 637.00 per unsubsidised cylinder, down from Rs 737.50 per cylinder. Subsidised cooking gas price will be Rs 494.35 per cylinder from midnight tonight.
"As domestic LPG prices are subsidised by the Government, the Effective Price after subsidy to consumer will be Rs 494.35 per cylinder for the month of July 2019. The Centre will bear the balance amount of Rs 142.65/cylinder as subsidy that is being transferred to the Bank account of LPG consumers after purchase and delivery of a refill," the IOC statement added.
On May 1, in a big blow to the common man, the prices of both subsidised and non-subsidised LPG cylinders were raised and implemented from June 1. While the non-subsidised LPG prices were increased by Rs 6 per cylinder in Mumbai and Delhi, the subsidised cooking gas rates were hiked by 28 paise per cylinder in Delhi and 29 paise per cylinder in Mumbai.