Domestic cooking gas (LPG) prices have been slashed up to Rs 30 per cylinder with effect from this month. Data from Indian Oil Corporation (IOC) shows that the prices of subsidised LPG cylinders in Delhi, Mumbai, Kolkata and Chennai stand cut by 0.3 per cent, whereas non-subsidised prices are around 4.5 per cent lower in February compared to January.
This is the third consecutive price cut in the last one month in line with falling fuel prices. The IOC data shows that a subsidised LPG cylinder costs Rs 493.53 per unit (14.2kg) in Delhi and Rs 491.19 per unit in Mumbai with effect from February 1. Indian oil is the country's largest fuel retailer and supplies LPG under its brand Indane.
Here are 10 things you need to know about the current LPG prices:-
1. Subsidised LPG prices in Kolkata and Chennai have been lowered to Rs 496.57 per cylinder and Rs 481.34 per cylinder with effect from February 1, from Rs 498.09 per cylinder and Rs 482.88 per litre in the previous month, respectively.
2. In Delhi and Mumbai, subsidised LPG rates were Rs 494.99 per cylinder and Rs 492.66 per cylinder in January.
3. Subsidised LPG prices in February are about 0.3 per cent lower compared to the previous month.
4. Non-subsidised LPG prices in Delhi, Kolkata, Mumbai and Chennai are at Rs 659.00 per cylinder, Rs 683.00 per cylinder, Rs 630.00 per cylinder and Rs 673.00 per cylinder with effect from February 1, according to the IOC website.
5. The rates were at Rs 689.00 per cylinder, Rs 714.00 per cylinder, Rs 660.00 per cylinder and Rs 704.50 per cylinder in January, respectively.
6. The downward revision in non-subsidised prices is to the tune of 4.4 per cent in Delhi, 4.3 per cent in Kolkata, and 4.5 per cent in Mumbai and Chennai each compared to the previous month.
7. LPG cylinder prices have been lowered for three consecutive months.
8. In November, subsidised LPG prices were at Rs 505.34 per cylinder in Delhi and Rs 503.11 per cylinder in Mumbai, and non-subsidised rates at Rs 939.00 per cylinder and Rs 912.00 per cylinder respectively.
9. The government subsidises 12 LPG cylinders of 14.2kg each per household in a year. It provides the subsidy amount directly in the consumer's bank account. The consumer has to bear the market price for additional LPG cylinders in a year.
10. This subsidy amount varies from month to month depending on the changes in the average international benchmark LPG and foreign exchange rates.
(with agency inputs)