New Delhi: The year surely ended on a good note for citizens after the government announced a major reduction in the prices of non-subsidised and subsidised LPG cylinders on December 31.

While the prices of the non-subsidised LPG cylinder has been slashed down by Rs 120.50 since the time the cost had peaked in November 2018, prices of the subsidised LPG cylinders were on Monday cut by Rs 5.91.

This means that from January 1, a 14.2-kg subsidised LPG cylinder, which used to cost Rs 500.90 earlier, will cost Rs 494.99 in Delhi, said  Indian Oil Corp (IOC) in a statement.

The IOC said that the reduction in the prices is a result of falling in prices of LPG in the international market and strengthening of US dollar-rupee exchange rate.

Non-subsidised LPG cylinders, which were priced at 809.50, will now cost Rs 689 in Delhi.

Rates of gas cylinders are different in different states. While subsidised LPG cylinders in Mumbai and Kolkata cost Rs 498.57 and Rs 504.12 respectively, the non-subsidised cylinders are 789.50 and Rs 837.

This is the second times that prices of LPG cylinders have been cut in a month. The government can boast of this pro-people policy as the back to back reductions have cancelled out the Rs 14.13 per cylinder increase in rates between June and November.