LPG Gas Cylinder price rises again– Check Subsidy / Non-Subsidy Rates (March 2019)

Published Date - 06 March 2019 12:10:38 Updated Date - 06 March 2019 12:11:42

LPG gas cylinder prices (subsidy and non-subsidy cylinder rates) have been up in March 2019 after 3 consecutive time reduction in December 2018, January 2019 & February 2019. People can now check the LPG Gas Cylinder New Prices (14.2 kg cylinder rates) in top metro cities like Delhi, Kolkata, Chennai, Mumbai & in other non-metro cities. These new LPG cylinder rates would remain applicable for the entire month of March 2019 starting from today onward.

The increase comes after three straight monthly reduction in rates.

The rise has been necessitated due to tax impact on increased market rate of the fuel, IOC said in a statement

A 14.2-kg subsidised LPG cylinder will now cost Rs 495.61 in the national capital from March 1 as against Rs 493.53 currently.

Prior to this, prices had been reduced by a total of Rs 13.39 per cylinder.

IOC said non-subsidised or market-priced LPG rates have been hiked by Rs 42.50 per cylinder "mainly due to change in international price and foreign exchange fluctuations."

It will now cost Rs 701.50 per 14.2-kg cylinder in Delhi.

All LPG consumers buy the fuel at market price. The government, however, subsidises 12 cylinders of 14.2 kg each per households in a year by providing the subsidy amount directly in bank accounts of users.

This subsidy amount varies from month to month depending on the changes in the average international benchmark LPG rate and foreign exchange rate.

When international rates move up, the government provides a higher subsidy. And when they come down, subsidy is cut.

According to tax rules, the goods and services tax on LPG has to be calculated at the market rate of the fuel. The government may choose to subsidise a part of the price but tax will have to be paid at market rates.

So, with the rise in market price or non-subsidised LPG price, the tax incidence on subsidised cooking fuel has also increased, leading to the current price hike.

IOC said subsidy transfer has been increased to Rs 205.89 per cylinder in March 2019 as against Rs 165.47 in February.

LPG Subsidy & Non-Subsidy Gas Cylinder Rates for March 2019

All the citizens can check both the subsidized and non-subsidized domestic gas cylinder prices to know the total amount on which they will get cylinder this month. In addition, people would be able to calculate the subsidy amount to be transferred into their bank accounts. The effective cost of domestic cooking gas cylinders to consumers with & without subsidy in metros for 14.2 Kg cylinder are as follows:-

LPG Gas Cylinder New Prices for March 2019

Metro Cities

Subsidized LPG Gas Cylinder Rates with Increase

Non-Subsidized Prices of LPG Gas Cylinders with Increment

Delhi

Rs. 495.61 (+2.08)

Rs. 701.50 (+42.50)

Kolkata

Rs. 498.75 (+2.18)

Rs. 727.50 (+44.50)

Mumbai

Rs. 493.32 (+2.13)

Rs. 673.50 (+43.50)

Chennai

Rs. 483.49 (+2.15)

Rs. 717 (+44.00)

Citizens can even check prices of 14.2 Kg LPG Subsidized / Non-Subsidized Gas Cylinders for March 2019 in other cities through this link – LPG Cylinder Rates in Other Cities March 2019. In the current month of March 2019 month, the price of non-subsidized LPG cylinder in Delhi has been increased by around Rs. 42.50 per cylinder while the rates of subsidized LPG cylinder has been increased by Rs. 2.08.

LPG Gas Cylinder New Prices Comparison with Previous Months

All the people can now compare the current LPG gas cylinder rates with the prices in the previous months:-
— Check 14.2 Kg Subsidized LPG gas cylinder previous prices (Month Wise) here
— Check 14.2 Kg Non-subsidized LPG gas cylinder previous prices (Month Wise) here

Subsidy in Bank Accounts for LPG Gas Cylinders

The subsidy amount varies on a monthly basis as per the changes in the average international benchmark LPG rate and foreign exchange rate. Whenever international oil rates move up, the central govt. provides a higher subsidy and when oil rates comes down, subsidy is cut. The subsidy amount to be transferred into the bank account of the customers is now Rs. 205.89 in Delhi, Rs. 228.75 in Kolkata, Rs. 180.18 in Mumbai and Rs. 233.51 in Chennai per cylinder in March 2019.

— For more details, visit the official website https://www.iocl.com/products/indanegas.aspx

 

 


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