Government cuts LPG price by Rs. 5.91 per cylinder. Giving a new year gift to the people, the government has announced major reduction in LPG prices.

The price of subsidised LPG cylinder has been cut by Rs 5.91, while the rate of non-subsidised LPG cylinder has been reduced by Rs 120.50, said Indian Oil Corporation.

A 14.2-kg subsidised LPG cylinder will cost Rs 494.99 in the national capital from midnight tonight as against Rs 500.90 currently, Indian Oil Corp (IOC), the country's largest fuel retailer, said in a statement. This is the second straight monthly reduction in LPG rate.

This subsidy amount varies from month to month depending on the changes in the average international benchmark LPG rate and foreign exchange rate.