The Crossbill News Desk
After months of steep increases driven by geopolitical tensions and surging energy prices, commercial LPG users received significant relief on Wednesday (July 1) as oil-marketing companies announced a sharp cut in the price of 19-kg commercial liquefied petroleum gas cylinders.
The reduction comes amid easing concerns in global energy markets following the US-Iran agreement signed on June 17 and the subsequent cooling of the West Asia crisis.
Commercial LPG will now cost Rs 2,930 per cylinder in New Delhi, after touching a record Rs 3,113 last month, news agency PTI reported.
A commercial cylinder in Mumbai now costs Rs 2,885, after being reduced by Rs 182 a cylinder. Prices in Kolkata have been reduced by Rs 174 to Rs 3,081.5 per cylinder. In Chennai, a Rs 177 reduction has the commercial cylinder selling at Rs 3,106 now.
The latest revision partially reverses a series of sharp hikes imposed over the past few months.
On April 1, commercial cylinder prices were increased by Rs 195.50, following a rise of Rs 114.50 on March 1. The most dramatic jump came on May 1, when the Union government raised the price of 19-kg commercial LPG cylinders by a record Rs 993, representing an increase of more than 40% over April prices. In total, commercial LPG prices had risen by Rs 1,303 within a span of three months.
Oil companies have also reduced the price of five-kg free trade LPG cylinders by around Rs 13 per cylinder, bringing the price in New Delhi down to Rs 808.50.
However, households using domestic LPG cylinders did not receive any respite. The price of a 14.2-kg domestic cylinder remains unchanged at Rs 942. Domestic LPG prices were last increased by Rs 29 on June 7, when the price rose from Rs 913 to Rs 942 per cylinder.
The reduction in commercial LPG rates marks the first price cut this year and is expected to provide some relief to hotels, restaurants and other businesses dependent on commercial cooking gas.
In another boost for the transport sector, the price of aviation turbine fuel for domestic scheduled carriers has also been reduced by Rs 5 per litre, bringing it down to Rs 110 per litre.
The reduction comes amid easing concerns in global energy markets following the US-Iran agreement signed on June 17 and the subsequent cooling of the West Asia crisis.
Commercial LPG will now cost Rs 2,930 per cylinder in New Delhi, after touching a record Rs 3,113 last month, news agency PTI reported.
A commercial cylinder in Mumbai now costs Rs 2,885, after being reduced by Rs 182 a cylinder. Prices in Kolkata have been reduced by Rs 174 to Rs 3,081.5 per cylinder. In Chennai, a Rs 177 reduction has the commercial cylinder selling at Rs 3,106 now.
The latest revision partially reverses a series of sharp hikes imposed over the past few months.
On April 1, commercial cylinder prices were increased by Rs 195.50, following a rise of Rs 114.50 on March 1. The most dramatic jump came on May 1, when the Union government raised the price of 19-kg commercial LPG cylinders by a record Rs 993, representing an increase of more than 40% over April prices. In total, commercial LPG prices had risen by Rs 1,303 within a span of three months.
Oil companies have also reduced the price of five-kg free trade LPG cylinders by around Rs 13 per cylinder, bringing the price in New Delhi down to Rs 808.50.
However, households using domestic LPG cylinders did not receive any respite. The price of a 14.2-kg domestic cylinder remains unchanged at Rs 942. Domestic LPG prices were last increased by Rs 29 on June 7, when the price rose from Rs 913 to Rs 942 per cylinder.
The reduction in commercial LPG rates marks the first price cut this year and is expected to provide some relief to hotels, restaurants and other businesses dependent on commercial cooking gas.
In another boost for the transport sector, the price of aviation turbine fuel for domestic scheduled carriers has also been reduced by Rs 5 per litre, bringing it down to Rs 110 per litre.
Comments (0)
Leave a Comment