Indian Oil (IOC), an oil and gas marketing company, has announced a LPG price cut of Rs 10 on LPG cylinders. The new rates have come into force from today ie 1 April 2021. The price of LPG cylinder in Delhi has come down from Rs 819 to Rs 809 now.
New Delhi. LPG Retail Prices have also been cut after the petrol and diesel prices were cut. Indian Oil (IOC), an oil and gas marketing company, has announced a price cut of 10 rupees on LPG cylinders. The new rates have come into force from today ie 1 April 2021. The price of LPG cylinder in Delhi has come down from Rs 819 to Rs 809 now. Customers of the whole country will get the benefit of reduction in LPG. After the record prices of petrol and diesel in January and February 2021, both of them saw a softening in the price in March. Petrol became cheaper by Rs 0.61 and diesel by Rs 0.60 per liter.
LPG, petrol and diesel prices are coming down
During the Corona period, there was considerable upheaval in the prices of crude oil and petroleum products in the international market. Its continuous uptrend was seen from November 2020 onwards due to the commencement of economic activities around the world. Significantly, India imports about 85 percent crude oil to meet its petroleum needs. Therefore, due to increase in international prices, the domestic price of petroleum products was increased. However, in Asia and Europe, between the rising cases of Kovid-19 and the side effects of the vaccine, the prices of crude oil and petroleum products in the international market are showing softening in the third month of the year. This is the reason why the oil marketing companies have reduced the retail selling prices of diesel and petrol within the last few days.
The country’s large population will get its benefit
LPG prices will benefit large population of the country. 14 crore domestic LPG cylinders are consumed every month across the country. To ensure the availability of clean fuel i.e. LPG cylinders to the poor, the Ujjwala scheme was launched by the Modi government at the Center. These consumers will also get benefit due to lower price of LPG cylinder. In the year 2014, where the coverage of LPG was 55 per cent across the country, it has now increased to 99 per cent. Due to lower LPG prices, women will also be able to manage their kitchen budget.
