(LiveMint)
After three months of consecutive rate cuts, the price of liquified petroleum gas (LPG) cylinders was increased today. “For the month of June, 2020, there has been an increase in international prices of LPG. Due to increase in the prices in international market, the RSP (retail selling price) of LPG in Delhi market will be increased by ₹11.50 per cylinder,” Indian Oil said in a statement.
Based on the international benchmark rate of LPG and the exchange rate of US dollar and rupee, LPG cylinder rates are revised at the beginning of each month. Ever since August 2019, LPG prices were on an upward journey but as bears took charge in the global energy market due to the global spread of coronavirus and related lock downs in several countries, LPG rates were cut for three straight months till May. “The retail selling price of LPG in Delhi market for the month of May 2020 was reduced from ₹744 to ₹581.50 per cylinder for all consumers in line with drop in international prices,” Indian Oil said.
