LPG price reduced, auto fuel rates may also be cut soon
State-run oil marketing companies reduced the cooking gas rate by ₹10 a cylinder from Thursday, and plan to cut prices of auto fuels in the coming days, with the fall being steeper for diesel compared to petrol, two people aware of the development said.
The government-controlled Indian Oil Corporation (IOC), India’s largest fuel retailer, on Wednesday announced reducing the cooking gas price. “With a view to give relief to domestic LPG [liquefied petroleum gas or cooking gas] consumers, the price of Domestic LPG cylinder has been reduced by ₹10 per cylinder from ₹819 per cylinder to ₹809 per cylinder at Delhi effective 1st April 2021. The same reduction has been carried out in other markets,” it said in a statement.
International oil prices are softening even as they remain volatile, but OMCs will reap some benefits of lower prices, and pass these on, the people added on condition of anonymity.
