New Delhi, July 31: The price of subsidised LPG cylinder was on Tuesday hiked by Rs 1.76 while the price of Non-Subsidised LPG cylinder was hiked by Rs. 35.50. With this hike, a cylinder of subsidised LPG would cost Rs 498.02 and a cylinder of non subsidised LPG would cost Rs 789.5 in Delhi.
The new rates would be effective from midnight intervening July 31 and August 1.
Oil firms revise LPG price on 1st of every month based on average benchmark rate and foreign exchange rate in the previous month.
All LPG consumers have to buy the fuel at market price. The government, however, subsidises 12 cylinders of 14.2-kg each per households in a year by providing the subsidy amount directly in bank accounts of users.
This subsidy amount varies from month to month depending on the changes in average international benchmark LPG rate and foreign exchange rate.