Marginal Reduction in Commercial LPG Cylinder Prices in India from January 1, 2024

Marginal Reduction in Commercial LPG Cylinder Prices in India from January 1, 2024

VoM News Desk | January 2, 2024 | 02:40 PM IST | Breaking News, India | Follow on Google News

Marginal Reduction in Commercial LPG Cylinder Prices in India from January 1, 2024

Marginal Reduction in Commercial LPG Cylinder Prices in India from January 1, 2024

Oil marketing companies in India have initiated a marginal reduction in the prices of commercial liquefied petroleum gas (LPG) cylinders weighing 19 kg, effective from January 1, 2024. This price adjustment aligns with the variations in the international benchmark, the Saudi contract price, governing LPG pricing.

Routine Monthly Revision
The revision in prices is a part of the routine monthly review undertaken by state-owned oil firms like Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL). In Delhi, the new rate for a 19 kg commercial LPG cylinder stands at Rs 1,755.50, marking a marginal decrease of Rs 1.50 from the previous rate. Comparable minor adjustments have been implemented in major cities such as Mumbai, Chennai, and Kolkata.

Continued Fluctuations
This reduction signifies the second consecutive price cut for commercial LPG cylinders following the Rs 39.50 decrease in Delhi on December 22, 2023. Prior to this reduction, there was a Rs 21 increase in the price of commercial LPG on December 1. Notably, while the commercial LPG pricing has experienced fluctuations, the cost of domestic 14.2 kg LPG cylinders has remained steady since the government’s additional subsidy introduction on August 29.

Stable Domestic LPG Prices
Presently, the prices for domestic LPG cylinders in major cities remain in the range of Rs 902.50 to Rs 929. The unchanged pricing for domestic LPG, despite the commercial LPG market fluctuations, underlines the government’s sustained subsidy and stable pricing strategy in this sector.

VoM News Desk

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