IOCL revises domestic subsidised LPG prices -Governance Now

IOCL revises domestic subsidised LPG prices

The subsidised cylinder which used to cost Rs 493.55 per unit in June is now available at Rs 496.26 in July

GN Bureau | July 3, 2018

#Indian Oil #PSU #IOCL

Indian Oil has increased the price of cooking gas by Rs 2.71 per cylinder in the effective price of subsidised LPG cylinder in Delhi for domestic customers. The corporation said that the hike is mainly on account of GST on revised price of domestic non-subsidized LPG.

The subsidised cylinder which used to cost Rs 493.55 per unit in June is being sold at Rs 496.26 in July.

While the price of non-subsidized LPG in Delhi will increase by Rs 55.50 per cylinder in July due to surge in international price of LPG by $57 per MT, the actual impact is only Rs 2.71 per cylinder for domestic customers, mainly because of GST levied on the above, IOCL said.

The balance Rs 52.79 (Rs 55.50 minus Rs 2.71) is being compensated to the customers by increase in subsidy transfer to their bank account. Accordingly, the subsidy transfer in customer’s bank account has been increased to Rs 257.74 per cylinder in July as against Rs 204.95 per cylinder in June. The corporation said domestic LPG customer is protected against the increase in international prices of LPG.

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