LPG Cylinder Prices At Lowest Level So Far This Year
LPG or cooking gas prices are at their lowest level so far this year. LPG cylinders - at subsidized as well as non-subsidised rates - have been lowered five times in calendar year 2018. Earlier this month, non-subsidised LPG prices were revised downward in the range of Rs 0.5-3 per cylinder of 14.2 kg in Delhi, Kolkata, Mumbai and Chennai, according to data from Indian Oil Corporation, which supplies the cooking gas under brand Indane. The change in subsidized LPG prices was of magnitude 2-14 paise per litre, data shows. The overall change in non-subsidised LPG prices is of nearly Rs 100 per cylinder in the five consecutive reductions.
Currently, households in the country are entitled to 12 LPG cylinders (of 14.2 kg) at subsidised prices every year. These rates are known as subsidised LPG rates. Any requirement beyond that is to be purchased at market prices. These rates are known as non-subsidised LPG prices.
With effect from May 1, 2018, subsidised LPG prices are at Rs 491.21 per cylinder in Delhi, Rs 494.23 per cylinder in Kolkata, Rs 488.94 per cylinder in Mumbai and Rs 479.42 per cylinder in Chennai, according to Indian Oil Corporation. Non-subsidised LPG prices are at Rs 650.5 per cylinder, Rs 674 per cylinder, Rs 623 per cylinder and Rs 663 per cylinder respectively.
Compared with the prices the previous month, subsidized LPG prices are down 14 paise per cylinder in Delhi, 10 paise per cylinder in Kolkata and Mumbai, and 2 paise per cylinder in Chennai. Non-subsidised LPG prices are Rs 3, Rs 2 (Kolkata and Mumbai) and 50 paise lower respectively.
The Ministry of Petroleum had earlier this month pointed at the overall reduction of Rs 96.5 per cylinder non-subsidised LPG price in Delhi since December 2017. It had also mentioned the Rs 4.48 cut in subsidized LPG prices in the national capital during this period.
"Significant decrease in LPG cylinder price directly benefits the consumers. The subsidy is transferred directly in bank accounts of the LPG consumers under world's largest cash transfer scheme," the ministry had said. Pahal is a government-run scheme, under which LPG consumers can receive the LPG subsidy in their bank account. (Read more)
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Significant decrease in LPG cylinder price directly benefits the consumers. The subsidy is transferred directly in bank accounts of the LPG consumers under world's largest cash transfer scheme pic.twitter.com/guGnyzgrQR
May 8, 2018
In other metros, non-subsidised LPG prices are down Rs 92 per cylinder in Kolkata, Rs 96 per cylinder in Mumbai and Rs 93 per cylinder in Chennai so far in 2018. Subsidised LPG prices are down Rs 4.2 per cylinder, Rs 4.44 per cylinder and Rs 4.27 per cylinder respectively.
Meanwhile, petrol and diesel prices have hit all-time highs in some cities. Petrol prices have been raised by Rs. 2.84 per litre in Delhi, Rs.2.8 per litre in Kolkata, Rs. 2.81 per litre in Mumbai and Rs. 2.99 per litre in Chennai in 11 days, data from Indian Oil Corporation shows. Diesel prices have been increased by Rs. 2.6 per litre, Rs. 2.45 per litre, Rs. 2.76 per litre and Rs. 2.79 per litre respectively during this period. (Also read: Government aims at long-term solution on petrol, diesel prices)
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