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Non-subsidised LPG Cylinder Price Slashed By Rs 23.50

BI India BureauJun 3, 2014, 13:40 IST

Oil marketing companies (OMCs) reduced the price of non-subsidised cooking gas, which customers buy after using up their quota of 12 subsidised cylinders. The price was slashed by Rs 23.50 per cylinder from June 2.

OMCs cut the price after appreciation of the rupee and reduction in international crude oil prices.

The price of a non-subsidised 14.2 kg cooking gas cylinder in Delhi is now Rs 905, down from Rs 928.50. A subsidised gas cylinder costs Rs 414.

Indian Oil, a state-owned oil and gas corporation, said that losses on LPG have come down to Rs 432.71 per subsidised cylinder from Rs 449.14 in the previous month.

The fuel retailers revise jet fuel and non-subsidised cooking gas prices on the first of every month, based on the average international prices in the preceding month.

Oil marketing companies are now incurring combined daily under-recovery of about Rs 262 crore on the sale of diesel, kerosene and domestic cooking gas below cost.