IOC hikes LPG price, non-subsidised cylinder now costs Rs 712.5 in Delhi

Government-owned Indian Oil Corporation has increased price of a subsidised liquefied petroleum gas (LPG) 14.2 kg cylinder by 28 paise in New Delhi and 29 paise in Mumbai from Wednesday.

The non-subsidised rates have been increased by Rs 6 per cylinder in both metros.

A non-subsidised LPG cylinder will now cost Rs 712.5 in New Delhi, Rs 684.50 in Mumbai, Rs 738.50 in Kolkata and Rs 728 in Chennai.

Subsidised LPG rates now stand at Rs 496.14 per cylinder in New Delhi, Rs 499.29 in Kolkata, Rs 493.86 in Mumbai and Rs 484.02 in Chennai.

Indian Oil is the country's largest fuel retailer which supplies LPG under brand Indane.

Currently, LPG consumers in the country have to purchase the fuel at market prices. The government subsidises 12 cylinders of 14.2 kg each per household in a year by providing subsidy amount directly in the bank accounts.

This subsidy amount depends on changes in the average international benchmark LPG rate and foreign exchange rate.