Economy

Subsidised LPG price cut by ₹ 5.91; non-subsidised rate by ₹ 120.50

Domestic cooking gas (LPG) price was cut by ₹ 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.

Domestic cooking gas (LPG) price was cut by ₹ 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.   | Photo Credit: Ritu Raj Konwar

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The cost of subsidised LPG cylinder will be ₹ 494.99 and non-subsidised LPG ₹ 689.

In what comes as a New Year's gift, the government on Monday slashed non-subsidised LPG prices by Rs 120.5 per cylinder due to falling international prices and the strengthening rupee, the Indian Oil Corporation announced.

“The price of Non-Subsidised LPG at Delhi will decrease by Rs.120.50 per cylinder w.e.f. 1st January 2019, due to fall in price of LPG in international market and strengthening of US$-rupee exchange rate,’’ IOC said in a statement.

Consumers would now have to pay Rs 689 per unsubsidised cylinder, down from Rs 809.5 per cylinder.

“As domestic LPG prices are subsidised by Government, the Effective Price after subsidy to consumer will reduce by Rs.5.91/cylinder (from Rs. 500.90 in December 2018 to Rs.494.99 for the month of January 2019). The reduction is on account of GST impact on decrease in price of Non-Subsidised LPG,’’ the statement added.

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Printable version | Jan 20, 2020 10:43:07 PM | https://www.thehindu.com/business/Economy/subsidised-lpg-price-cut-by-591-non-subsidised-rate-by-12050/article25872810.ece

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