Commercial LPG Prices Slashed By Rs 39.50
In a development that may bring relief to users of commercial cooking gas, such as hotels and restaurants, Oil Marketing Companies (OMCs) announced a reduction of Rs 39.50 in the prices of 19 kg LPG cylinders across the four major metropolitan cities on Friday.
Typically, state-owned entities like Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) adjust prices for cooking gas and aviation turbine fuel (ATF) on the 1st of each month, based on the average international prices from the preceding month.
The revised prices, applicable as of December 22, reflect a notable decrease. For instance, the cost of a 19-kg IndaneGas cylinder in Delhi has been lowered from Rs 1,796.50 to Rs 1,757.00, while in Kolkata, prices have seen a reduction from Rs 1,908.00 to Rs 1,868.50.
The adjustment in Mumbai brings the prices of commercial LPG cylinders down to Rs 1,710 from Rs 1,749, and in Chennai, the revised price is Rs 1,929 compared to the previous Rs 1,968.50.
This modification follows the government's decision at the start of December to increase the prices of commercial LPG by Rs 21, aligning them with international benchmarks. The earlier rates were in effect as of December 1, 2023.
According to data provided by the Central government, the price of petrol in India experienced an 11.82 per cent decline, while diesel witnessed an 8.94 per cent decrease between November 2021 and November 2023.
The statement from the government underlined active efforts to shield common citizens from global oil price fluctuations, prioritising stability amidst volatility. This commitment reflects a dedication to safeguarding citizens' economic well-being against external market challenges, it added.
