Oil Companies Slash Prices of Commercial LPG Gas Cylinders

Oil marketing companies have announced a price cut for commercial LPG gas cylinders by ₹69.50, effective June 1. As a result, the retail price of a 19kg commercial LPG cylinder in Delhi is now ₹1676.

This move follows similar reductions in other major metro cities across India, as reported by news agency ANI.

Specific Price Adjustments of LPG Gas Cylinders in Metro Cities:

In Mumbai, the new price for a 19kg commercial LPG cylinder is ₹1,629 following the ₹69.50 reduction. Chennai sees its price set at ₹1,841.50, while in Kolkata, the price stands at ₹1,789.50 after the cut.

This recent adjustment comes after oil marketing companies previously lowered the rate of 19kg commercial LPG cylinders by ₹19 on March 1.

The consecutive price cuts indicate a positive trend for businesses managing operating costs amidst economic challenges. Notably, in April, the prices of 19kg commercial cylinders and 5kg FTL (Free Trade LPG) cylinders were reduced by ₹30.50 and ₹7.50, respectively.

Regular Price Revisions of LPG Gas Cylinders:

Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) consistently revise cooking gas prices on the 1st of every month.

While the exact reasons behind the recent price decrease remain undisclosed, it is likely influenced by several factors, such as international oil price fluctuations, changes in taxation policies, and supply-demand dynamics.

Government Initiatives and Opposition Criticism:

The government promotes using LPG cylinders for household cooking through schemes like the Pradhan Mantri Ujjwala Yojana, which provides subsidies to eligible families.

However, the Opposition frequently criticizes the BJP-led Centre for not effectively controlling fuel prices and their impact on essential food items and other commodities.

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