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LPG cylinder prices cut by Rs 133 from December 1 in Delhi, subsidised rates reduced to Rs 500.90

As Per Tax Rules, GST On LPG Cylinder Prices Has To Be Calculated At The Market Rate Of The Fuel.

News Nation Bureau | Edited By : Nabanita Chakorborty | Updated on: 30 Nov 2018, 09:41:18 PM
LPG cylinder prices to be decreased by Rs 133 from December 1 in Delhi (File Photo)

LPG cylinder prices to be decreased by Rs 133 from December 1 in Delhi (File Photo)

New Delhi:

In yet another major relief to consumers, the price of Non-Subsidised LPG at Delhi will be decreased by Rs 133.00 per cylinder from December 1, 2018, according to sources. The fall in price is attributed to the decreased rates of LPG gases in international market and strengthening of US$-rupee exchange rate. Accordingly, the upfront cash payment by the consumer for the purchase of domestic LPG refill will reduce by Rs 133/cylinder, which means customers now have to pay Rs 809.50 in place of the earlier price of Rs 942.50 per cylinder across Delhi market.

Hence, from December onwards, subsidised cooking gas consumers will get Rs 308.60 per cylinder subsidy in their bank accounts. The subsidy transfer in the customer's bank account has been reduced from Rs. 433.66 in November.

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As domestic LPG prices are subsidised by the Government, the effective price after subsidy to consumers will reduce by Rs 6.52/cylinder (from Rs 507.42 in November 2018 to Rs 500.90 for the month of December 2018). The reduction is on account of GST impact on the decrease in the price of Non-Subsidised LPG.

A 14.2 kg subsidised LPG cylinder will cost Rs. 500.90 in the national capital from midnight tonight as against the current price of Rs 507.42, according to a statement released by the Indian Oil Corp (IOC).

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The price reduction comes soon 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.    

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First Published : 30 Nov 2018, 06:05:24 PM