In monthly revision of LPG cylinder prices, state-run Indian Oil Corporation (IOC) has increased the rate of subsidised LPG 14.2 kg cylinders by 28 paise in New Delhi and 29 paise in Mumbai from today. The rates for non-subsidised LPG cylinders has been increased by ₹6 per cylinder in both metros.
A non-subsidised LPG cylinder will now cost ₹712.5 in New Delhi, ₹684.50 in Mumbai, ₹738.50 in Kolkata and ₹728 in Chennai. Subsidised LPG rates now stand at ₹496.14 per cylinder in New Delhi, ₹499.29 in Kolkata, ₹493.86 in Mumbai and ₹484.02 in Chennai.
Currently, LPG consumers in the country have to purchase the fuel at market prices. The government subsidises 12 cylinders of 14.2 kg each per household in a year by providing subsidy amount directly in the bank accounts.
This subsidy amount depends on changes in the average international benchmark LPG rate and foreign exchange rate.