<p>The decision to cap the number of subsided domestic LPG cylinders to six per year will come into effect immediately.<br /><br /></p>.<p>With this, each consumer will be eligible for three cylinders for the remaining part of this financial year.<br /><br />An official statement said while subsidised cylinders will continue to be available at Rs 399 per cylinder in Delhi, the market rate of non-subsidised cylinders will be notified by the oil marketing companies (OMCs) every month.<br /><br />The step is expected to reduce under-recovery of oil marketing companies by about Rs 5,300 crore in the current financial year. <br /><br />Yet, the oil companies are expected to incur an estimated loss of Rs 32,000 crore in the current fiscal. <br /><br />A consumer can buy any number of cylinders over and above the cap of six at the market-determined price. <br /><br />With the global crude prices hovering around $115 per barrel, oil firms were losing Rs 347 on every cylinder of domestic cooking gas.<br /></p>
<p>The decision to cap the number of subsided domestic LPG cylinders to six per year will come into effect immediately.<br /><br /></p>.<p>With this, each consumer will be eligible for three cylinders for the remaining part of this financial year.<br /><br />An official statement said while subsidised cylinders will continue to be available at Rs 399 per cylinder in Delhi, the market rate of non-subsidised cylinders will be notified by the oil marketing companies (OMCs) every month.<br /><br />The step is expected to reduce under-recovery of oil marketing companies by about Rs 5,300 crore in the current financial year. <br /><br />Yet, the oil companies are expected to incur an estimated loss of Rs 32,000 crore in the current fiscal. <br /><br />A consumer can buy any number of cylinders over and above the cap of six at the market-determined price. <br /><br />With the global crude prices hovering around $115 per barrel, oil firms were losing Rs 347 on every cylinder of domestic cooking gas.<br /></p>
