In its monthly revision, prices of non-subsidized 14.2 kg LPG (liquid petroleum gas) cylinders were lowered by an average of Rs 62 by the state-owned Indian Oil Corporation Limited (IOC) across major Indian cities. The rates were revised lower on account of softening international prices.
|City||Rates effective from 1 Aug 2019 (Rs)||Previous price (Rs)||Difference (Rs)|
Households in India are allowed a maximum of 12 LPG cylinder purchases per year at subsidized rates. However, cylinders have to be bought at full price at the time of purchase, and the subsidy is then credited to the customer's bank account by the government.
Starting 1 August, buyers will pay Rs 62 lesser than the previous month, which saw a price cut of Rs 100.
"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," IOCL said.
In the month of June, prices of non-subsidized 14.2 kg cylinders were increased by Rs 25.
Subsidy received on these cylinders vary every month based on the changes in the pricing and tax rates. Further, GST (goods and service tax) on these cylinders are calculated on the market rates.
Residents also have the choice of voluntarily opt out of subsidy.