Commercial LPG cylinder prices slashed by ₹30
Oil marketing companies in Monday announced an immediate reduction in the price of 19kg commercial liquefied petroleum gas (LPG) cylinders by ₹30. The new prices are now set at ₹1,646 in Delhi, ₹1,756 in Kolkata, ₹1,598 in Mumbai, and ₹1,809.5 in Chennai. This latest price cut follows a series of reductions over the past few months.
Price reduction over last few months
On June 1, the price of a 19kg commercial LPG cylinder was lowered by ₹69.50 to ₹1,676. Prior to that, on May 1, there was a reduction of ₹19 per cylinder. These frequent adjustments typically occur at the start of each month.
Factors influencing LPG cylinder price adjustments
The price adjustments of LPG cylinders are influenced by various factors. These include fluctuations in international oil prices, changes in tax policies, and varying supply-demand conditions. While the exact reasons for the current price cut have not been disclosed, it is clear that oil marketing companies are reacting to broader economic circumstances.
Price reductions beneficial for businesses
These successive price reductions are significant for businesses grappling with rising operational costs in a challenging economic environment. The food and hospitality sectors, which heavily depend on commercial LPG cylinders, stand to benefit particularly. Lower prices can help these businesses manage their expenses more efficiently and potentially enable them to offer more competitive prices to their customers.
