Non-subsidised 14.2 kg LPG cylinder to cost Rs 621
| Date :02-Aug-2019 |
Business Bureau:
LPG consumers across the country have reasons to smile as the oil marketing companies have reduced price of non-subsidised LPG cooking gas by 62.5 per 14.2 kg cylinder. In Nagpur the effective price cut is Rs 63 per 14.2 kg cylinder. As the price cut came into effect from Thursday, the consumers in Nagpur will have to pay Rs 621 per 14.2 kg cylinder.
The earlier price of non-subsidised LPG cylinder (for the month of July) in Nagpur was Rs 684 per 14.2 kg cylinder and the subsidy was Rs 180.74 per cylinder. But here onwards the subsidy will be Rs 117.74 per 14.2 kg cylinder which will be directly transferred into the bank account of beneficiaries. Interestingly, the price cut has come into effect for the second time in last one month. On account of falling prices of petroleum products at the international level, the oil marketing companies on July 1 had reduced the price of non-subsidised LPG by about Rs 100 per cylinder.
This means that the price of non-subsidised LPG cylinder has come down by about Rs 163 per cylinder in last two months. Non-subsidised is the market price of the 14.2 kg LPG cylinder, which the consumers pay for buying it. However, the eligible consumers get subsidy on first 12 cylinders every year. LPG prices are subsidized by the Government and thus the subsidy is being directly transferred into the bank accounts of the beneficiaries. The recent price cut came because of LPG price cut in the international market and the dollar-rupee exchange rate. The marketing companies revise price of LPG cylinders every month.