The prices of non-subsidised liquefied petroleum gas (LPG) remained unchanged across four major metro cities-Delhi, Kolkata, Mumbai and Chennai -- on December 1. This is the fifth consecutive month since July when there have not been any changes in the LPG rates.
In Delhi and Mumbai, a non-subsidised 14kg LPG cylinder will sell for Rs 594, whereas in Kolkata, a non-subsidised 14kg LPG cylinder is priced at Rs 620. In Chennai, a non-subsidised 14kg LPG cylinder sells for Rs 610, according to the Indian Oil Corporation website.
Prices of LPG cylinders are decided and revised on a monthly basis by state oil marketing companies (OMCs). These OMCs include Bharat Gas, Indian Oil Corporation Limited and Hindustan Petroleum Corporation Limited. Cooking gas prices differ across the country due to local taxes in various states. A customer has to make any other purchases -- apart from the subsidised 12 cylinders -- at the prevailing market prices.
Currently, the government provides subsidies on over 12 cylinders to each household annually. This subsidy is transferred directly to the bank accounts of the beneficiaries after buying the cylinder. 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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