In a major relief to consumers, the price of LPG cylinders has been steeply cut by Rs 162.5 per cylinder in Delhi today. In the other parts of the country too, the oil marketing companies have slashed LPG cylinder prices. With the latest cut in prices, a 14.2 kg non-subsidised LPG cylinder would cost Rs 581.50, instead of Rs 744 with effect from today. In Mumbai, Kolkata, and Chennai, the LPG cylinder will cost around Rs 579, Rs 584.50, and Rs 569.50 respectively. The steep cut in the global energy market is being attributed to the falling LPG prices as they were rising since August 2019 before significantly falling in the last two months.
Soon after the lockdown was announced, the panic buying of the LPG cylinder started to take place even when the gas companies assured of sufficient stock. Even the Narendra Modi-led government commenced a program to provide 3 LPG cylinders free to over 8 crore beneficiaries of the Pradhan Mantri Ujjawala Yojana (PMUY) during the three months to June, out of which more than 11 lakh free gas cylinders have already been distributed across the country.
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In the previous price cut of LPG cylinders last month, the non-subsidised cooking gas prices in the domestic market came down by nearly Rs 61.5 per cylinder, driven by a sharp drop in international prices. This made the LPG cylinder prices fall to Rs 744 in Delhi, Rs 714.5 in Mumbai, Rs 774.5 in Kolkata, and rs 761.5 in Chennai. Meanwhile, in these tough times, the OMCs including IOCL and HPCL have assured that they will make their best efforts to make the LPG cylinders reach even the houses which are in the far-flung areas of the country.