Non-subsidised cooking gas price cut by Rs 62.50 per cylinder

New Delhi, Aug 01: Non-subsidised cooking gas (LPG) price was on July 31 cut by Rs 62.50 per cylinder on softening international rates.

Non-subsidised or market priced LPG, which consumers buy after exhausting their quota of 12 cylinders of 14.2-kg each at subsidised rates, will now cost Rs 574.50 with effect from midnight tonight, IOC said in a statement.

"It may be noted that the price of non-subsidised LPG was reduced by Rs 100.50/cylinder earlier in July 2019 also. Considering this, the price of non-subsidised LPG cylinder has come down by Rs 163.00/cylinder cumulatively in two months," it said.

Earlier on July 1, the price of the non-subsidised LPG cylinders came down by over Rs 100 per 14.2 kg cylinder on the back of softening international rates. IOC noted, "As domestic LPG prices are subsidised by the Government, the effective price after subsidy to consumer will be Rs 494.35 per cylinder for the month of July 2019. The balance amount is borne as subsidy (Rs 142.65 per cylinder) by the central government and is being transferred to the bank account of LPG consumers after purchase and delivery of a refill."