LPG cylinder price has been cut for the third consecutive time. In May, the price of LPG cylinder was cut by 162.50.
Oil marketing companies review LPG cylinder prices on the first day of every month. After this cut, the price of 14.2 kg non-subsidized LPG cylinder in Delhi has been reduced from Rs 744 to 581.50.
The price of LPG cylinder in Mumbai is now Rs 579 while the earlier LPG cylinder price was 714.50. The price of cylinder in Kolkata has been reduced by Rs 190. Now t
cylinder price in Kolkata is Rs584.50.
At the same time, the price of LPG cylinder in Chennai is Rs 569.50. After March 25 when Lockdown came into effect there has been panic buying of cylinders.
Retailers were stressing that there is no shortage of LPG cylinders in the country and there is sufficient gas reserves to meet the local demand.
India's largest fuel retailer Indian Oil Corporation Limited (IOC) said it reported a 20% increase in sales in April. The price of LPG cylinders in India is mainly dependent on two factors - the international prices of LPG, the US dollar and the exchange rate of the rupee.
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