LPG cylinder price reduced! After increasing rate by Rs 125 last month, oil firms slash cooking gas price by Rs 10
LPG cylinder price new rate: In some relief to all households, state-run oil firms have decided to slash LPG cylinder price by Rs 10. The decision is likely to give some relief to common man who had to pay Rs 125 extra after these oil firms raised the price by that amount last month.
LPG cylinder price new rate: In some relief to all households, state-run oil firms have decided to slash LPG cylinder price by Rs 10. The decision is likely to give some relief to common man who had to pay Rs 125 extra after these oil firms raised the price by that amount last month. The decision to slash LPG cylinder price comes on the heels of softening international oil prices.
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With this reduction in price of cooking gas on Wednesday, a 14.2-kg LPG gas cylinder — both for subsidised and market price users — will cost Rs 809 from April 1 as against Rs 819 currently, Indian Oil Corporation (IOC) said in a statement.
"Prices of crude oil and petroleum products in the international market have been on a constant uptrend since November 2020. As India is largely import-dependent on crude oil and the prices are market-linked, the increase in international prices resulted in an increase in the domestic price of petroleum products," IOC said.
However, due to growing worries about rising COVID cases in Europe and Asia and concerns over the side effects of the vaccine, prices of crude oil and petroleum products in the international market softened in the second fortnight of March 2021. "Accordingly, oil companies have reduced the retail selling price of diesel and petrol by 60 paise per litre and 61 paise per litre, respectively, at Delhi market over the past few days. There was a corresponding reduction in prices at other markets during this period," it said.
This reduction has come as a relief to motorists and transporters across India. "Further, with a view to give relief to domestic LPG consumers, the price of domestic LPG cylinder has been reduced by Rs 10 per cylinder from Rs 819 to Rs 809 per cylinder at Delhi effective April 1, 2021. The same reduction has been carried out in other markets," it said.
Earlier in one of the steepest hikes in a month, LPG prices were hiked first by Rs 25 per cylinder on February 4, followed by a Rs 50 per cylinder increase on February 15 and a Rs 25 raise on February 25 and March 1.
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