New Delhi: Indian Oil Corporation Limited on Wednesday introduced that the price of Domestic LPG cylinders will likely be decreased by Rs 10 per cylinder from April 1.
The Corporation has launched a press release to announce the choice. It started with elaborating on the sooner market situations: “Prices of crude oil and petroleum products in the international market have been on a constant uptrend since November 2020. As India largely imports dependent on crude oil and the prices are market-linked, the increase in international prices resulted in an increase in the domestic price of petroleum products”.
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Stating the rationale for the lower in value, the company said: “Due to growing worries about rising Covid-19 cases in Europe and Asia and concerns over the side effects of vaccines, prices of crude oil and petroleum product in the international market softened in the second fortnight of March 2021”.
“Accordingly, Oil Companies have reduced the Retail Selling Price (RSP) of Diesel and Petrol by 60 paise per litre and 61 paise per litre respectively at Delhi market over the past few days. There was a corresponding reduction in prices at other markets during this period. This reduction has come as a relief to motorists and transporters across India,” it added.
So to supply some aid to the customers, the worth of Domestic LPG cylinders has been decreased by Rs 10 per cylinder. So the worth will go down from Rs 819/cylinder to Rs 809/cylinder in Delhi from April 1. The similar discount will likely be carried out in different markets as properly.
The value hike of Rs 50 for home LPG cylinders in February this yr had garnered a variety of criticism and debate with questions being raised towards the central authorities’s particularly with opposition leaders digging out previous statements of BJP leaders.
