LPG cylinders get expensive, these are the new rates of LPG
LPG cylinders get expensive, these are the new rates of LPG
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LPG cylinders price has increased by Rs.2.71 for subsidized and Rs 55.50 for non-subsidized cylinders. The reason for the increase in international rates of LPG is the decline in rupee. The retail oil company Indian Oil Corporation (IOC) said that the price of subsidized LPG cylinders in Delhi will go down from Saturday midnight to Rs 493.55. 

Oil companies revise LPG prices on the first day of every month based on the average benchmark rate of the previous month and the foreign currency exchange rate. It has been said in the statement that the increase in the cost of domestic LPG cylinders without subsidizing GST has increased. The price of non-subsidized LPG cylinders increases by Rs 55.50 as the price increases in the global market. The price of non-subsidized LPG cylinders in Delhi will be increased to Rs 55.50 per cylinder.

In the statement, Indian Oil said, "The remaining Rs 52.79 (Rs 55.50-2.71) will be transferred to their bank account as compensation. Thus, in July 2018, the subsidy transfer in subscribers' bank accounts increased to Rs 257.74 per cylinder had become, that per cylinder 204.95 money in June 2018. thus subsidized LPG customers are protected from the increase in international prices of LPG."

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