New Delhi, November 30: For all the domestic gas consumers in India, you all have some good news. Reducing rates of the gas cylinder prices, the Indian Oil corporation announced that the price of subsidised LPG cylinder in Delhi will decrease by Rs 6.52 from tomorrow. The price of non-subsidised LPG cylinder in Delhi has also been cut by Rs 133.00 per cylinder.
The Indian Oil corporation said the price has been reduced due to fall in global crude oil prices. Currently, price of subsidised LPG in Delhi is Rs 507, while the non-subsidised LPG is sold at Rs 942 per cylinder. After the price cut, subsidised cylinder in Delhi will cost Rs 500.90.
Bustling the rumors on increasing prices of LPG cyclinders, Petroleum Minister Dharmendra Pradhan said domestic LPG cylinder rates are likely to be reduced in the coming days. And thereby the minister stated that, according to some news reports, LPG price may touch Rs 1,000 per cylinder. It is being clarified that this is not based on facts and the price is not being increased to Rs 1,000. It said because of a fall in international fuel prices, domestic LPG prices are also likely to fall down in the coming days.
Giving the consumers a sigh of relief, the price reduction comes after six consecutive monthly hikes in rates since June. Prior to this price cut, rates had gone up by Rs 14.13 per cylinder since then. Subsidised LPG rates were last hiked by Rs 2.94 per cylinder with effect from November 1.
While all LPG cylinders are available at market price, subsidised gas consumers get their subsidy entitlement directly into their bank accounts. The government subsidises only 12 cylinder of 14.2 kg each per household in a year by transferring the subsidy amount directly into the bank accounts of LPG consumers.