The oil marketing companies are likely to revise the price of Liquefied Petroleum Gas (LPG) on Monday. The price of LPG gas cylinders, determined by state-run oil companies, is revised on a monthly basis.
The price was kept unchanged in the month of January. As per Indian Oil Corporation, a non-subsidised 14.2-kg gas cylinder currently costs Rs 694 in Delhi and Mumbai, Rs 720.50 in Kolkata and Rs 710 in Chennai. A 19-kg cylinder is priced at Rs 1,349 in Delhi, 1,410 in Kolkata, 1,297.50 in Mumbai and 1,463.50 in Chennai.
Indian households are allowed a maximum of 12 LPG cylinder purchases per year at subsidised rates. They have to be bought at full price at the time of purchase. The subsidy is later credited to the customer's account by the government.
The subsidy varies from month to month due to the fluctuations in average international LPG prices and the foreign exchange rate. LPG cylinder prices are determined on the basis of the variations in the average international LPG prices and the exchange rate of US dollar and rupee.
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