New Delhi: Giving a bit of a relief to the common man amidst the unprecedented rise in the rates of essential commodities, the prices of non-subsidised LPG cylinders will decrease from April. Starting from 1 April, the cost of domestic cooking gas will be reduced by Rs 10, Indian Oil Corporation Limited said on Wednesday.
After raising cooking gas prices by Rs 125 per cylinder last month, state-owned oil firms announced a cut of Rs 10 per cylinder in LPG rates on Wednesday with softening international oil prices.
India is largely import-dependent on crude oil and the prices are market-linked, the increase in international prices resulted in increase in domestic price of petroleum products.
However, due to growing worries about rising Covid-19 cases in Europe and Asia and concerns over the side effects of vaccine, prices of crude oil and petroleum product in the international market softened in the second fortnight of March 2021.