New Delhi, Apr 01, 2020: Oil marketing companies on Wednesday reduced domestic cooking gas (14.2 kg) LPG prices by over Rs 60 per cylinder. The move comes after a significant reduction in global crude oil prices as to Deccan Herald reports.
According to the state-owned Indian Oil Corporation Limited (IOC), the price of a 14.2 kg non-subsidised LPG cylinder in Delhi will be slashed by Rs 61.50 to sell at Rs 714.50 per refill, in Kolkata, the prices have been slashed by Rs 65 to Rs 774.50. In Chennai, the price cut is Rs 64.50 per refill. It will now sell at Rs 761.50. And in Mumbai, the prices have been cut by Rs 62 per refill.
The difference in prices per city is due to a cut in VAT by the state governments.
This is the second consecutive cut in LPG prices since last month. The cumulative reduction now is Rs 113 per cooking gas cylinder.
The prices of petrol and diesel, however, have not been cut in accordance with the reduction in crude oil prices.
Petrol continues to sell at Rs 69.59 per litre in Delhi and diesel at Rs 62.29 a litre at a time when crude oil price have reduced to $23 per barrel in the world market. A barrel is equivalent to 159 litres.
Petrol prices are at Rs 75.30 per litre in Mumbai, while it is Rs 72.29 a litre in Kolkata and Rs 72.28 a litre in Chennai.
Diesel is currently selling at Rs 65.71 in Chennai, Rs 64.62 per litre in Kolkata and Rs 65.21 per litre in Mumbai.