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The price of non-subsidized LPG cooking gas will be increased by Rs.55.50 per bottle in New Delhi, and the subsidized price of a marginal R of 2.71, as of July 1.
According to Indian Oil Corporation, the increase is mainly due to the GST on revised prices for domestic non-subsidized LPG.
"There is a marginal increase of Rs 2.71 per cylinder (from Rs 493.55 in June 2018 to Rs 496.26 in July 2018) of the effective price of the LPG barrel subsidized in Delhi for domestic customers for the month of July 2018, "IndianOil says in a statement Saturday.
"The increase is mainly due to the GST on the revised price of domestic non-subsidized LPG."
According to the statement, the price of unsubsidized LPG in Delhi that consumers buy
buys after exhaustion of their annual quota of 12 will increase by Rs 55.50 per cylinder in July 2018 due to the increase LPG international price of $ 57 per MT
"The balance Rs 52.79 (Rs 55.50 minus Rs 2.71) is to be compensated by the customer by increasing the transfer of subsidies to their bank account", indicates the press release.
As a result, the subsidy transfer to the client's bank account was increased to Rs. 257.74 per bottle in July 2018 compared to Rs. 204.95 per bottle in June 2018.
The oil companies revise the subsidy rates. LPG the 1st of every month in average crude oil price and exchange rate. Prices vary according to local taxes as petroleum products are not included in the pan-Indian GST.
– IANS
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(This story was not edited by Business Standard staff and is generated automatically from a syndicated feed.)
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