LPG cylinder in image
From 1st June 2021, a significant relief has been provided to the commoner by reducing the LPG cylinder price. On Wednesday ( 2nd June 2021), the officials from the Indian oil corporation, limited reported that the cost of domestic cooking gas will be reduced by ₹10 from 1st April 2021.
A 14.2kg LPG cylinder costs around ₹809 in Mumbai and Delhi. Now, in Kolkata, an LPG cylinder will cost around ₹835.50. The prices of the LPG cylinder will be lowered to ₹825 in Chennai.
Every month the prices of LPG cylinders are revised by the fuel retailers. In the recent week, the LPG cylinder price had been increased by ₹125 per cylinder.
Two factors determine the price of the LPG cylinders in India. They are:-
1.The exchange rate of the US dollar and rupee.
2. The international benchmark rate of LPG.
The international oil prices had softened, resulting in a drop in the LPG cylinder price.
A statement given by the Indian oil corporation informed that " Due to growing worries about rising Covid -19 cases in Europe and Asia and the concerns about the side effects of vaccines, price of crude oil and petroleum products in the international market softened in the second fortnight of March 2021."
On November 2018, the LPG cylinder price had touched a high record of ₹ 939 per cylinder. Every household gets 12 cylinders ( one cylinder per month) in India, each of 14.2 kg at a subsidized rate. If anyone needs more than 12 kg, he or she will get it at the market price. A consumer receives an LPG cylinder at a subsidized rate under the PAHAL ( direct benefit transfer of LPG).
Shortly, Diesel and petrol prices are also likely to fall, as asserted by the PTI. They also Informed that no increase in the prices would take place nearly.
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