Commercial LPG cylinder prices slashed by Rs. 83.50
The price for the 19-kg commercial LPG cylinder has been slashed by Rs. 83.50. The new prices will be applicable from Thursday, Indian Oil said. The retail price of a commercial LPG cylinder now stands at Rs. 1,773 in Delhi, Rs. 1,937 in Chennai, Rs. 1,875.5 in Kolkata, and Rs. 1,725 in Mumbai. Meanwhile, the prices of domestic LPG cylinders remain unchanged.
Prices are readjusted every month
A 14.2-kg domestic LPG cylinder currently costs Rs. 1,003 in Delhi and Rs. 1,018.5 in Chennai. Its price was hiked by Rs. 50 in March. State-run oil marketing companies revise the prices for commercial and domestic LPG cylinders at the beginning of every month with respect to global crude oil prices. The formula used to calculate LPG prices is called import parity price.
Petrol, diesel prices unchanged for 14 months
Petrol and diesel prices, on the other hand, remained static for the 14th consecutive month despite a decline in international oil prices. Indian Oil, Bharat Petroleum, and Hindustan Petroleum had frozen retail prices in April 2022 to insulate domestic consumers in the aftermath of the Russia-Ukraine crisis. Due to selling fuel below cost, they posted a combined loss of Rs. 21,201.18 crore during April-September.
Jet fuel prices also reduced
Meanwhile, the prices of jet fuel or aviation turbine fuel (ATF) were also reduced on Thursday. For the month of June, the ATF price in Delhi stands at Rs. 95,935.34 per kiloliter. Although fuel retailers are supposed to revise prices based on a 15-day rolling average of benchmark international fuel prices, the price was last adjusted on April 6.
