 "Subsidised LPG price cut by Rs 6.52; non-subsidised rate reduced by Rs 133")
The price of non-subsidised LPG cooking gas will be decreased by Rs 133 per cylinder in New Delhi, and that of the subsidised one will reduce by Rs 6.52 per cylinder, effective December 1.
According to the Indian Oil Corporation, the decrease in price of non-subsidised LPG cylinder is mainly due to a fall in price of LPG in the international market and strengthening of US dollar-rupee exchange rate.
Consumers have to buy non-subsidised LPG cylinder after exhausting their yearly quota of 12 subsidised ones.
"The price of Non-Subsidised LPG at Delhi will decrease by Rs 133 per cylinder w.e.f. 1st December 2018, due to fall in price of LPG in international market and strengthening of 'US$-rupee' exchange rate," IndianOil said in a statement on Friday.
"Accordingly, the upfront cash payment by the consumer for purchase of domestic LPG refill will reduce by Rs 133 per cylinder, i.e. from Rs.809.50 per cylinder in December, 2018 in Delhi market in place of Rs 942.50 per cylinder in November, 2018."
In terms of subsidised domestic LPG cylinders, the decline has been attributed mainly on account of GST impact on the revised price of domestic non-subsidised LPG.
"As domestic LPG prices are subsidized by Government, the Effective Price after subsidy to consumer will reduce by Rs.6.52 per cylinder. The reduction is on account of GST impact on decrease in price of Non-Subsidised LPG," the statement said.
Effectively, the price on subsidised cylinder will decrease to Rs 500.90 from Rs 507.42 in November 2018.