Commercial LPG price cut by up to ₹39.5 per cylinder
LPG prices are usually revised on the first of every month, and sometimes within the month
New Delhi: State-run oil marketing companies (OMCs) have reduced the price of the 19-kg commercial cooking gas by up to ₹39.50 per cylinder with effect from Friday.
In the national capital, a commercial LPG cylinder now costs ₹1,757. In Kolkata and Chennai, too, the prices were lowered by ₹39.50 to ₹1,868 and ₹1,929 a cylinder, respectively, according to data on the Indian Oil Corporation’s website.
In Mumbai, the price declined by ₹39 to ₹1,929.
The rates were earlier revised on 1 December, when the fuel retailers increased prices by ₹21 per cylinder.
The reduction in prices may comes as a relief for hotels and restaurants, the major consumers of commercial LPG cylinders.
LPG prices are usually revised on the first of every month, and sometimes within the month.
The price of the 14.2 kg domestic LPG cylinders, however, has been kept unchanged since the last government-announced price cut of ₹200 in August. On 29 August, the Union cabinet approved a reduction of ₹200 per domestic cylinder. The 14.2 kg LPG in Delhi is priced at ₹903 per cylinder.
The decline in commercial LPG prices comes at a time when India’s retail inflation jumped to a three-month high of 5.55% in November, accelerating from 4.87% in October.
The figure is higher than the RBI’s target of 4%, but still remains within its tolerance range of 2-6% for the third consecutive month.
LPG prices are a key component of the household budget. Ahead of the recent assembly elections, the government had in October reduced the price of a domestic LPG cylinder by ₹100 for Ujjwala beneficiaries.
The Centre has also extended the Pradhan Mantri Ujjwala Yojana (PMUY) to 7.5 million more consumers for over three years. With this addition, the number of total beneficiaries now stands at 103.5 million.
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Business NewsEconomyCommercial LPG price cut by up to ₹39.5 per cylinder
First Published:22 Dec 2023, 12:55 PM IST
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