Non-subsidised LPG price cut by Rs 100 in India

New Age Desk | Published: 00:42, Jul 02,2019

 
 

Days ahead of the Budget, Indian Oil Corporation on Sunday announced a reduction of Rs 100.50 in the price of LPG cylinders. The decision to slash prices has been taken in the backdrop of softening international rates, reports The Indian Express.

Under new rates, the cooking gas will cost Rs 637 per cylinder from July 1 as against Rs 737.50 previously. Subsidised cooking gas price will be Rs 494.35 per cylinder.

Under new rates, the cooking gas will cost Rs 637 per cylinder from July 1 as against Rs 737.50 previously. Subsidised cooking gas price will be Rs 494.35 per cylinder.

‘As domestic LPG prices are subsidised by the government, the effective price after subsidy to the consumer will be Rs 494.35 per cylinder for the month of July 2019. The balance amount is borne as subsidy Rs 142.65 per cylinder by the central government and is being transferred to the Bank account of LPG consumers after purchase and delivery of a refill,’ the IOC said in a statement.

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