Non-subsidised LPG price cut by Rs 162.50 per cylinder

Non-subsidised LPG or market-priced cooking gas prices were cut by a record Rs 162.50 per cylinder on Friday, in line with the slump in benchmark international rates.

This is the third straight monthly reduction in rates of non-subsidised LPG, which users who have given up subsidy buy. Also, this is the gas that domestic household consumers buy after exhausting their quota of 12 cylinders of 14.2 kg each at subsidised prices.

The outbreak of coronavirus and the lockdowns imposed by nations to curb the spread of virus has evaporated demand for oil, sending international oil prices crashing.

Benchmark Brent crude oil last month dropped to a two-decade low of USD 15.98 a barrel, but has rebounded since to USD 26.43 a barrel on Friday.