Cost of domestic LPG cylinder reduced by Rs 10 from April 1
New Delhi, March 31, 2021
Oil marketing companies (OMCs) today reduced the price of domestic LPG cylinders by Rs 10 from Rs 819 to Rs 809 per cylinder in Delhi with effect from April 1.
"The same reduction has been carried out in other markets," a press release from Indian Oil Corporation (IOC) said, adding that the move was aimed at giving relief to domestic LPG consumers.
The release noted that prices of crude oil and petroleum products in the international market had been on a constant uptrend since November 2020. "As India is largely import-dependent on crude oil and the prices are market-linked, the increase in international prices resulted in increase in the domestic price of petroleum products," it said.
"However, due to growing worries about rising Covid-19 cases in Europe and Asia and concerns over the side effects of the vaccine, prices of crude oil and petroleum product in the international market softened in the second fortnight of March 2021. Accordingly, Oil Companies have reduced the Retail Selling Price (RSP) of Diesel and Petrol by 60 paise per litre and 61 paise per litre, respectively, at Delhi market over the past few days. There was a corresponding reduction in prices at other markets during this period. This reduction has come as a relief to motorists and transporters across India," it said.
"Driven by the vigorous thrust of the Government on making accessible clean energy to all Indians, LPG has emerged as the preferred kitchen partner for almost every Indian. LPG penetration in India has improved from 55% in 2014 to more than 99% today," the release added.