LPG Cylinder Price: Petroleum and oil marketing companies in India have recently reduced the price of commercial LPG (liquefied petroleum gas) cylinders by ₹ 171.50 per unit. This price cut has been implemented with immediate effect, according to sources on Monday. After the reduction, the latest retail price of a 19 kg LPG cylinder in Delhi now stands at ₹ 1,856.50.
The latest reduction in prices of commercial LPG cylinders comes after a similar cut in prices last month when prices were reduced by ₹ 91.50 per unit, bringing the price down to ₹ 2,028 per unit. Prior to that, on August 1, 2022, the prices of commercial LPG cylinders were reduced by ₹ 36 per unit. In July 2022, the rates for 19-kilogram commercial cylinders were also cut by ₹ 8.5 per unit.
However, the prices of both commercial and domestic LPG cylinders had been hiked earlier this year. On March 1, 2023, petroleum and oil marketing companies hiked the prices of commercial LPG cylinders by ₹ 350.50 per unit and domestic LPG cylinders by ₹ 50 per unit.
LPG is a clean-burning fuel that is widely used in India for cooking, heating, and lighting. The price of LPG cylinders in India is determined by the cost of raw materials, transportation, taxes, and other factors. The prices are revised on a monthly basis depending on the changes in the international market prices and the currency exchange rate.
The reduction in prices of commercial LPG cylinders is expected to bring relief to small businesses and industries that rely on LPG as their primary source of fuel. It will also benefit households that use commercial LPG cylinders for cooking and heating purposes. The latest price cut is likely to reduce the burden on consumers who have been facing rising costs of essential commodities and fuels.
Overall, the reduction in the price of commercial LPG cylinders by ₹ 171.50 per unit is a welcome move for consumers in India. It is expected to bring relief to households and businesses that use LPG cylinders regularly. While the prices of LPG cylinders are subject to market fluctuations, the government, and oil marketing companies continue to work towards ensuring the availability of LPG at affordable prices for all.