LPG cylinders will cost cheaper by Rs 100.50 from today, the Indian Oil Corporation (IOC) said in its release. The non-subsidised LPG gas cylinders will be available for Rs 637 per cylinder instead of earlier price of Rs 737.50.
The move will bring major relief to households who use LPG cylinders across the country.
According to IOC’s press release, the decision to cut LPG cylinder rates was taken amid softening LPG rates in the international market and a favourable dollar-rupee exchange rate.
Furthermore, subsidised LPG rates have come down to Rs 494.35 per cylinder after the rate revision. The release also said that the balance amount of Rs 142.35 per cylinder “would be borne as subsidy” by the central government and the same will be transferred to the customer’s bank account after the purchase of a refill.