New Delhi: The government on Friday slashed prices of LPG cylinder by Rs 162 giving a breather to people who are struggling to cope with economic crisis as a result of lockdown imposed to curb the spread of global pandemic Coronavirus.
According to the country’s leading oil marketing company, the new rates come into effect from today.
In Delhi, the price of a 14.2 kg non-subsidised LPG (Liquified Petroleum Gas) cylinder has been reduced from Rs 744 to Rs 581.50 for the month of May.
The government gives 12 cylinders at a subsidy rate to the LPG consumer in a financial year and on demand for more than that, the market price has to be paid.
The new rate in Mumbai will be Rs 579 per cylinder. It will be available at Rs 584.50 in Kolkata and Rs 569.50 per cylinder in Chennai.
Ever since the lockdown began from March 25, panic buying of LPG cylinders have been reported in most parts of the country.
Retailers have been emphasising that there is no shortage of LPG cylinders in the country as there is enough stockpile of the gas to meet local demand.
India’s largest fuel retailer Indian Oil Corp. Ltd (IOC) said it has reported a 20 per cent spike in sales in April.