New Delhi | Jagran Business Desk: Amid the slump in benchmark international rates, the prices of the non-subsidised LPG or market-priced cooking gas were cut by a record Rs 162.50 per cylinder on Friday. This is the third straight monthly reduction in rates of non-subsidised LPG. 

With this price cut, an LPG cylinder will now cost Rs 581.50 in Delhi, down from Rs 744 till Thursday, while in Mumbai, non-subsidised cooking gas price have been reduced to Rs 579 per cylinder from Rs 714.50.

In Chennai, a non-sbusidised LPG cylinder will cost around Rs 569.50, down from Rs. 761.50 while it will cost around Rs 584.50 in Kolkata, down from Rs 774.50. 

As per the notification issued by state-owned oil firms, the price of 19-kg LPG cylinders, which is used by commercial establishment, has also been cut to Rs 1,029.50 from Rs 1,285.

This is the third straight monthly reduction in rates of non-subsidised LPG amid the falling international prices. In April, the prices of an LPG cylinder was cut by Rs 61.50 per cylinder while it saw a cut of Rs 53 in March. 

In the previous three reductions, the price of non-subsidised cooking gas were cut by Rs 277 per 14.2-kg cylinder.

This is also the highest reduction in the price of non-subsidised cooking gas ever as it beats the previous cut of Rs 150.5 per cylinder in January 2019. 

The price of the cooking gas are revised by the state-owned marketing companies on the first day of every month based on average of benchmark fuel in the international market and foreign exchange rate.

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.

Cooking gas is available only at market price across the country. Eligible users, however, get a subsidy in their bank accounts for buying LPG cylinders at below-market rates.

(With inputs from agencies)

Posted By: Aalok Sensharma