Gas cylinders cheaper by ₹100.50 from Monday
Gas cylinders will get cheaper by ₹100.50 from Monday, IOC has announced. With this price coming into effect, unsubsidised price of each domestic LPG cylinder will be ₹637 instead of ₹737.50
Gas cylinders will get cheaper by ₹100.50 from Monday, Indian Oil Corporation has announced. With this price coming into effect, unsubsidised price of each domestic LPG cylinder will be ₹637 instead of ₹737.50.
According to Indian Oil, the decision to cut rates was taken in view of softening liquefied petroleum gas prices in the international market and a favourable dollar-rupee exchange rate.
The effective price of domestic LPG, subsidised by the government, has come down to ₹494.35 per cylinder with this rate revision.
The balance amount of ₹142.65 per cylinder "would be borne as subsidy" by the central government and transferred to the consumer's bank account after the purchase of a refill, a press release from Indian Oil said.
The cut in price comes exactly a month after LPG saw a price hike of 3.65 per cent with effect from June 1. According to Indian Oil, that amounted to an increase of ₹25 per cylinder as compared to the previous month.
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