LPG Price Cut: Commercial Cylinder Prices Reduced By Rs 69.50; Check City Wise Rates | Economy News

After the decision, the retail price of the 19kg commercial LPG cylinder in the national capital stood at Rs 1,676, as per ANI reported. The price reduction decision by Oil Marketing Companies has been taken to offer relief to businesses and commercial enterprises.

This latest reduction comes on the heels of a previous price adjustment on May 1, 2024, when the rate of 19 kg commercial LPG cylinders was lowered by Rs 19. The consecutive decreases in price signal a positive trend for businesses grappling with operating costs amid economic challenges.

LPG Cylinder Price Cut For the Third Time In A Row: 

A month ago, on May 1, oil marketing companies reduced the prices of commercial LPG gas cylinders by Rs 19 per unit with immediate effect. The retail sales price of a 19 kg commercial LPG cylinder was then Rs 1745.50 in the national capital, sources said. Earlier in April, the price was cut by Rs 30.50 for a 19-kg commercial cylinder at Rs 1764.50.  

With the start of a new month, the new prices of the LPG cylinders have been slashed. The government is running various schemes to promote the use of LPG cylinders for cooking in homes, like Pradhan Mantri Ujjwala Yojana, which provides subsidies to eligible families. 

LPG Cylinder City-Wise Price: 

Delhi -Rs 1,676

Kolkata -Rs 1,787

Mumbai  -Rs 1,629  

Chennai  -Rs 1,840.50

Reasons For LPG Cylinder Price Cut: 

The Opposition, led by the Congress, has often taken potshots at the BJP-led ruling National Democratic Alliance (NDA) at the Centre for failing to rein in fuel prices and its ripple effect on the prices of essential food items and other commodities.

While the precise reasons behind the price decrease remain undisclosed, various factors, such as changes in international oil prices, shifts in taxation policies, and supply-demand dynamics, likely contribute to such adjustments.

Notably, the revisions for both commercial and domestic LPG (liquefied petroleum gas) cylinders typically occur on the first day of each month. (With Inputs From ANI)