Non-subsidised LPG rate cut by Rs 43.50 per cylinder | business | Hindustan Times
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Non-subsidised LPG rate cut by Rs 43.50 per cylinder

business Updated: Jan 01, 2015 20:51 IST

Price of non-subsidised cooking gas (LPG) was Thursday cut by Rs 43.50 per cylinder as international oil rates slumped to their lowest since May 2009.

A 14.2-kg cylinder of non-subsidised LPG will now cost Rs 708.50, down from Rs 752 previously, in Delhi, oil companies announced on Thursday.

This is the fifth straight reduction in rates of non-subsidised or market-priced LPG, which the customers buy after exhausting their quota of 12 cylinders at subsidised rates, since August.

A subsidised LPG refill currently costs Rs 417 in Delhi.

Price of non-subsidised LPG were last cut on December 1 by a steep Rs 113.

In six monthly reductions, non-domestic LPG rates have been slashed by Rs 214 per cylinder, bringing the price to a three-year low.

Price of subsidised LPG have not been changed.

Brent crude, a pricing benchmark for more than half of the world's oil, sank 48% in 2014 as US producers and the Organization of Petroleum Exporting Countries (OPEC) ceded no ground in their battle for market share amid a supply glut.

Brent fell to US $57.33 a barrel, the lowest since May 2009.