PM Narendra Modi's New Year gift to the nation, slashes LPG cylinder price by ₹ 120

After a lot of criticism over the fuel prices, the BJP government has slashed the prices of LPG cylinders by over ₹ 120 and is being said to be the New Year gift for the nation by PM Narendra Modi.

The Indian Oil Corporation announced late evening on 31st December that the price of subsidized cylinder will be reduced by ₹ 5.91 and the non-subsidized cylinder was reduced by ₹ 120 with effect from today.

“The price of Non-Subsidised LPG at Delhi will decrease by Rs.120.50 per cylinder w.e.f. 1st January 2019, due to fall in price of LPG in international market and strengthening of US$-rupee exchange rate,” said the IOC statement.

Now, Consumers will now have to pay Rs 689 per unsubsidised cylinder, down from Rs 809.5 per cylinder.

The statement read as “As domestic LPG prices are subsidised by Government, the Effective Price after subsidy to consumer will reduce by Rs.5.91/cylinder (from Rs. 500.90 in December 2018 to Rs.494.99 for the month of January 2019). The reduction is on account of GST impact on decrease in price of Non-Subsidised LPG.”

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