Cooking LPG gas prices cut by Rs 162 per cylinder

The oil marketing companies Friday cut the non-subsidised domestic cooking gas (LPG) prices by Rs 162 per cylinders.

This is the third consecutive month of the price cut. Cumulative cut since March 1 is Rs 277 per cylinder.

The three cuts come after crude oil prices nosedived in the international market, prompting producers to pay buyers. International LPG prices tend to move in tandem with the price of crude oil, the key raw material.

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With the latest cut in prices, a 14.2 kg non-subsidised LPG cylinder would cost Rs 581.50in Delhi instead of Rs 744.

In Mumbai, it will sell at Rs 579, Kolkata at Rs 584.50 and Chennai at Rs 569.50.

The country has around 26 crore LPG consumers, of which some 8 crore are covered under the Pradhan Mantri Ujjwala Yojana (PMUY).

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.

Meanwhile, COVID-19 has led to a surge in the demand for LPG cylinders following which the Indian Oil Corporation has increased its import by 50% more to ensure uninterrupted availability of bulk LPG for its bottling plants.