New Delhi: In a major relief to consumers, the cost of domestic Liquefied Petroleum Gas (LPG) cylinders will reduce by Rs 10 from April 1, bringing it down to Rs 809 per cylinder, Indian Oil Corporation (IOC) informed on Wednesday.
The price of a gas cylinder earlier stood at Rs 819 per cylinder.
"The price of domestic LPG cylinder has been reduced by Rs 10 per cylinder from Rs 819 per cylinder to Rs 809 per cylinder in Delhi, effective from April 1. The same reduction has been carried out in other markets," the IOC said.
Prices of crude oil and petroleum products have been on a constant uptrend since November 2020. As India is largely import-dependent on crude oil and the prices are market-linked, the increase in international prices resulted in an increase in domestic price of petroleum products, according to an official statement.
However, due to growing worries about rising COVID-19 cases and concerns over the side effects of the vaccine, prices of crude oil and petroleum product in the international market softened in the second fortnight of March 2021, it added.
The IOC further informed that oil companies have reduced the Retail Selling Price (RSP) of diesel and petrol by 60 paise per litre and 61 paise per litre respectively in the national capital over last few days.