LPG cylinder price left unchanged for this month. Check latest rates here
NEW DELHI : After two months of rate hikes, the price of liquefied petroleum gas (LPG) cylinders was left unchanged today. LPG cylinder prices are reviewed on the first day of every month and depending on international fuel rates and US dollar-rupee exchange rates, prices can go up or down.
Last month, LPG rates were hiked by Re 1 a cylinder in Delhi and ?3.5 in Mumbai while in June the rate hike was of ?11.50. In February, LPG cylinder rates had gone upto ?858.50 (Delhi) but in March, as coronavirus fears hit global fuel demand, rates went down to ?805.50. In May, LPG price was cut from ?744 to ?581.50 per cylinder as the energy market went into a bear mode.
Latest LPG cylinder rates (Indane - non-subsidised 14.2 kg):
Delhi -- ?594
Kolkata -- ?621
Mumbai -- ?594
Chennai -- ?610.50
All consumers have to buy LPG cylinders at the market price but the government transfers the subsidy directly into the bank accounts of those eligible through direct benefit transfer (DBT). Under the rules, one domestic household is eligible for only 12 cylinders of 14.2 kg each at subsidised prices. For any subsequent purchases beyond the quota, one needs to buy at market rates.
Indian Oil Corporation Ltd (IOC), the nation's biggest oil firm, reported that during the June quarter LPG sales recorded a 15.7% rise due to the government's free cooking gas scheme for the poor.
The government had in March announced three 14.2-kg LPG cylinders free of cost to about 8 crore Ujjwala beneficiaries from April to June to help them cope with the economic pain of the coronavirus lockdown.
Some of the beneficiaries could not use the money in their account to buy an LPG refill before June 30. They have now been given an opportunity to do so by September 30.
Hindustan Petroleum Corp Ltd (HPCL) said between April and June over 10 crore free cooking gas (LPG) cylinders were supplied to poor households under the government's COVID-19 relief package.