Categories: Business

no subsidy element in price of LPG cylinder, check latest rates | LPG subsidy did not come to account of gas consumers in May-June, the ministry stated the reason for this

Photo: NEWINDIANEXPRESS

no subsidy element in price of LPG cylinder, check latest rates

new Delhi. In the months of May and June, no subsidy was deposited by the government in the account of consumers who bought LPG cylinders. Millions of consumers were upset by this. The Ministry of Petroleum and Natural Gas has shared an information by tweeting on Saturday, to help consumers overcome this problem, which will help to address consumers' concerns.

The ministry has tweeted that due to the fall in the prices of LPG gas cylinders from May 2020, there was no part of the subsidy in their price. Therefore, no subsidy for LPG cylinders supplied in the months of May, 2020 and June 2020 has been transferred directly to the consumer's bank accounts.

It may be noted that due to Corona virus, the prices of various petroleum products including LPG were declining in May and June. But with the lockdown opening in mid-June, economic activity started and the prices of petroleum products started improving. During the lockdown, the price of the gas cylinder was cut three times in a row, reducing its price to Rs 277.

The price of LPG cylinder in Delhi was Rs 858.50 in February, which was reduced to Rs 805.50 in March. In May, the price of LPG cylinder dropped from Rs 744 to 581.50 per liter. On July 1, petroleum companies increased the price of 14.2 kg non-subsidized LPG cylinders by Rs 1. Its price is Rs 594 per cylinder in Delhi. Although the prices of petrol and diesel are revised on a daily basis, the prices of LPG cylinders are revised at the beginning of every month.

New Price of LPG Cylinder (Indane – Non-Subsidized 14.2 kg)

Delhi – ₹ 594

Kolkata – ₹ 620.50

Mumbai – ₹ 594

Chennai – ₹ 610.50

LPG cylinders are being sold at market price in India but the government pays subsidy directly into bank accounts of eligible consumers. The government provides subsidy as the difference between the market price and the price of the subsidized cylinder. There is a provision to provide 12 LPG cylinders per year at subsidized price to each family. After this cylinder has to be bought at market price.

This post was published on July 25, 2020 11:33 am

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