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Subsidized LPG Cylinder Rates Hiked For October
The prices of subsidized cooking gas (LPG cylinder) has been increased by Rs 2.98 per 14.2 kg cylinder from Rs 499.51 to Rs.502.4 in Delhi. The rates are effective from 1 October and a similar hike will be observed in other metro and non-metro cities as well.
Prices of non-subsidized domestic 14.2 kg domestic cylinders have been increased by Rs 59 per cylinder in Delhi. Households in India are allowed to purchase a minimum of 12 cylinders at a subsidized rate, after which they will need to buy at full price.
In the statement where Indian Oil Corporation (IOC) informed of the new applicable rates, it said that the increase in prices was on account on increase in international prices and foreign exchange valuations.
" While the price of Non-Subsidised LPG at Delhi will increase by Rs.59.00 per cylinder in October 2018 mainly due to change in international price and foreign exchange fluctuations, the actual impact on subsidised domestic LPG customers is only Rs.2.89 per cylinder, which is mainly due to GST on the above," it said.
On should also note that there will be an increase in the amount of subsidy provided by the government to the bank accounts of eligible users in the proportionate amount. " The subsidy transfer in customers' bank account has been increased to Rs.376.60 per cylinder in October 2018 as against Rs. 320.49 per cylinder in September 2018. Thus the domestic subsidised LPG customer is protected against the increase in prices of LPG," the statement further said.
