NEW DELHI: The price of a liquified petroleum gas (LPG) is set to fall by Rs 10 with effect from April 1, Indian Oil Corporation informed in a statement on Wednesday.
In the recent weeks, price of the domestic cooking gas had been increased by Rs 125 per cylinder.
Meanwhile, prices of petrol and diesel are also expected to come down in the near term as international oil prices have softened, news agency PTI reported quoting sources.
Petrol and diesel prices touched an all-time high last month.
However, since February-end, petrol and diesel prices have remained static because of international prices being range-bound. They have been cut by 60-61 paise a litre in three reductions in one week after global prices softened.
Petrol now costs Rs 90.56 per litre in Delhi, down from a record high of Rs 91.17, and a litre of diesel comes for Rs 80.87.
While petrol and diesel prices are revised daily based on a 15-day rolling average of benchmark fuel in the international market, LPG rates are decided on the 1st of every month.