New Delhi:Â Price of non-subsidised cooking gas (LPG) was on Thursday cut by Rs 43.50 per cylinder as international oil rates slumped to their lowest since May 2009.Â
A 14.2-kg cylinder of non-subsidised LPG will now cost Rs 708.50, down from Rs 752 previously, in Delhi, oil companies announced on Thursday.Â
This is the fifth straight reduction in rates of non- subsidised or market-priced LPG, which the customers buy after exhausting their quota of 12 cylinders at subsidised rates, since August.Â
A subsidised LPG refill currently costs Rs 417 in Delhi. Price of non-subsidised LPG were last cut on December 1 by a steep Rs 113.Â
In six monthly reductions, non-domestic LPG rates have been slashed by Rs 214 per cylinder, bringing the price to a three-year low.Â
Price of subsidised LPG have not been changed. Brent crude, a pricing benchmark for more than half of the world’s oil, sank 48% in 2014 as US producers and the Organization of Petroleum Exporting Countries ( OPEC) ceded no ground in their battle for market share amid a supply glut. Brent fell to $57.33 a barrel, the lowest since May 2009.
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