(LiveMint)
Domestic cooking gas (LPG) price was cut by Rs 5.91 per cylinder on Monday, the second straight reduction in a month’s time due to tax impact on reduced market rate of the fuel. A 14.2-kg subsidised LPG cylinder will cost Rs 494.99 in the national capital from midnight tonight as against Rs 500.90 currently, Indian Oil Corp (IOC), the country’s largest fuel retailer, said in a statement.
This is the second straight monthly reduction in LPG rate. On December 1, subsidised LPG price was cut by Rs 6.52 per bottle. IOC said non-subsidised or market priced LPG rates have been cut by a steep Rs 120.50 per cylinder “due to fall in price of LPG in international market and strengthening of US dollar-rupee exchange rate.”
It will now cost Rs 689 per 14.2-kg cylinder in Delhi. On December 1, price of non-subsidised LPG was cut by Rs 133 per bottle. All LPG consumers have to buy the fuel at market price. The government, however, subsidises 12 cylinders of 14.2-kg each per households in a year by providing the subsidy amount directly in bank accounts of users.
