Oil companies have decided to bring down the prices of gas cylinders with the onset of New Year 2018. In a monthly review meeting held recently by the gas companies, it was decided that the prices will be reduced for both subsidized and non-subsidized cylinders.
Reportedly, the non-subsidized gas cylinders have become cheaper by INR 6 while the cost of the commercial gas cylinders has been reduced by INR 8.50. Discussing more on the details, the 14.2 kg gas cylinder which used to cost INR 735, will now cost INR 729.
Moving on with the details, earlier INR 237.02 was deducted from the bank accounts of consumers a subsidy but from no onwards, only INR 231.02 will be deducted as the subsidy. Consequently, the commercial gas cylinders weighing 19 kg which used to be available for INR 1322.50 will now be available for INR 1314.
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Talking about the gas LPG prices in big cities, the subsidized LPG rates are now INR 495.69 per cylinder (Delhi), INR 498.43 per cylinder (Kolkata), INR 493.38 per cylinder (Mumbai) and INR 493.69 per cylinder (Chennai). Moving on the non-subsidized ones, the prices are INR 747 (Delhi), INR 766 (Kolkata), INR 719 (Mumbai) and INR 756 (Chennai).
All the households in India are entitled to avail 12 LPG cylinders of 14.2 Kgs each in a year at subsidized rates. Any additional requirement has to be met at the market price i.e. at non-subsidized rates.
Earlier, the government had directed oil companies to increase the price by INR 4 per cylinder every month until the subsidy was eliminated or March 2018, whichever was earlier. However, after receiving a negative feedback from poor households, the government scrapped the idea.
In India, the common man is always concerned about two things the most. It’s either the petrol/diesel prices or the Gas cylinder prices that affects a typical Indian citizen the most. In such a scenario, the reduced price of LPG cylinders is definitely great news for those who were expecting something good, this New Year.
