LPG prices have been reduced with effect from this month. While the prices of subsidised LPG cylinders in Delhi, Mumbai, Kolkata and Chennai stand cut by 0.3 per cent, non-subsidised priced are around 4.5 per cent lower in February compared to the previous month, data from Indian Oil Corporation shows. With effect from February 1, a subsidised LPG cylinder costs Rs. 493.53 per unit (14.2 kilograms) in Delhi and Rs. 491.19 per unit in Mumbai, according to Indian Oil’s website – iocl.com. Indian Oil – the country’s largest fuel retailer – is the supplier of LPG under brand Indane.
Here are 10 things to know about current LPG prices:
1. Subsidised LPG prices in Kolkata and Chennai have been lowered to Rs. 496.57 per cylinder and Rs. 481.34 per cylinder with effect from February 1, from Rs. 498.09 per cylinder and Rs. 482.88 per litre in the previous month respectively.
2. In Delhi and Mumbai, subsidised LPG rates were Rs. 494.99 per cylinder and Rs. 492.66 per cylinder in January.
3. Subsidised LPG prices in February are about 0.3 per cent lower compared to the previous month.
4. Non-subsidised LPG prices in Delhi, Kolkata, Mumbai and Chennai are at Rs. 659.00 per cylinder, Rs. 683.00 per cylinder, Rs. 630.00 per cylinder and Rs. 673.00 per cylinder with effect from February 1, according to the IOC website.
5. The rates were at Rs. 689.00 per cylinder, Rs. 714.00 per cylinder, Rs. 660.00 per cylinder and Rs. 704.50 per cylinder in January respectively.
6. The downward revision in non-subsidised prices is to the tune of 4.4 per cent in Delhi, 4.3 per cent in Kolkata, and 4.5 per cent in Mumbai and Chennai each compared to the previous month.
7. LPG cylinder prices have been lowered for three consecutive months.
8. In November, subsidised LPG prices were at Rs. 505.34 per cylinder in Delhi and Rs. 503.11 per cylinder in Mumbai, and non-subsidised rates at Rs. 939.00 per cylinder and Rs. 912.00 per cylinder respectively.
9. The government subsidises 12 LPG cylinders of 14.2 kilograms each per household in a year. It provides the subsidy amount directly in the consumer’s bank account. The consumer has to bear the market price for additional LPG cylinders in a year.
10. This subsidy amount varies from month to month depending on the changes in the average international benchmark LPG and foreign exchange rates.