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LPG Cylinder Becomes Costlier After Three Months Of Rate Cuts. Here's How Much You Pay Now

In February, the subsidised and non-subsidised LPG prices in Delhi had stood at Rs 493.53 per cylinder and Rs 659.00 per cylinder respectively.

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LPG Cylinder Becomes Costlier After Three Months Of Rate Cuts. Here's How Much You Pay Now

LPG cylinder price: Currently, consumers purchase cooking gas at market price

LPG prices were increased on Friday, marking the first upwards revision after three straight monthly cuts. In Delhi, while the subsidised LPG will cost Rs 2.08 per cylinder more in March, non-subsidised LPG rate prices have been increased by Rs 42.50 per cylinder, according to Indian Oil Corporation. Subsidised and non-subsidised LPG rates in the national capital stand revised to Rs 495.61 per cylinder and Rs 701.50 per cylinder respectively, according to Indian Oil, the country's largest fuel retailer which supplies LPG under brand Indane.
Here are 10 things to know about LPG cylinder prices this month:
  1. Thursday's increase in prices marked a reversal in the trend in LPG prices in past three months.
  2. Before the latest hike, the subsidised LPG prices had been lowered by a total Rs 13.89 per cylinder in Delhi since November, data from Indian Oil showed. The non-subsidised LPG rates were reduced by Rs 283.5 per cylinder during this period.
  3. In February, the subsidised and non-subsidised LPG prices in Delhi had stood at Rs 493.53 per cylinder and Rs 659.00 per cylinder respectively.
  4. Attributing the increase in non-subsidised rates in the national capital to the change in international price and foreign exchange fluctuations, Indian Oil said in a statement the actual impact on "subsidised LPG customers is only Rs 2.08 per cylinder".
  5. In Mumbai, the subsidised and non-subsidised LPG prices were increased to Rs 493.32 per cylinder and Rs 673.50 per cylinder with effect from Friday, according to Indian Oil Corporation's website - iocl.com.
  6. "The subsidy transfer in customers' bank account has been increased to Rs 205.89 per cylinder in March 2019 as against Rs 165.47 per cylinder in February 2019," said Indian Oil. 
  7. Currently, LPG consumers in the country have to purchase 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.
  8. This subsidy amount varies from month to month depending on the changes in the average international benchmark LPG rate and foreign exchange rate. 
  9. As per tax rules, Goods and Services Tax (GST) on LPG has to be calculated at market rates.
  10. The government may choose to subsidise a part of the price however the tax will have to be paid at market rates.

(With agency inputs)



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