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LPG cylinder price cut by Rs 30, effective immediately

The Oil Marketing Companies on Monday announced a reduction of Rs 30 in the prices of 19-kilogram commercial LPG cylinders across the country, including metro cities such as New Delhi, Mumbai, Kolkata, and Chennai. The revised rates have come into effect immediately.

News Arena Network - New Delhi - UPDATED: July 1, 2024, 02:21 AM - 2 mins read

LPG cylinder price cut by Rs 30, effective immediately

Previously, on May 1, 2024, the price of a 19 kg commercial LPG cylinder in Delhi was reduced by Rs 19, bringing the retail sales price to Rs 1745.50. In April, there was a larger reduction of Rs 30.50, lowering the price to Rs 1764.50 per cylinder of the same size.

Oil marketing companies have announced a reduction in prices for commercial LPG gas cylinders, aiming to ease financial burdens on businesses and commercial enterprises. Effective from Monday, the price of a 19 kg commercial LPG cylinder has been cut by Rs 30. Consequently, the new retail price in Delhi stands at Rs 1646.

This latest reduction follows a series of price cuts in recent months. On June 1st, the price of the 19 kg commercial LPG cylinder was decreased by Rs 69.50 in Delhi, lowering the retail price to Rs 1676. Earlier, on May 1, 2024, there was a Rs 19 reduction per cylinder. These consecutive decreases indicate a positive trend for businesses grappling with operational costs amidst economic challenges.

The frequent adjustments in LPG cylinder prices at the beginning of each month highlight the dynamic nature of the market. Factors such as international oil prices, taxation policies, and supply-demand dynamics influence these pricing decisions significantly.

Although specific reasons for the recent price cut have not been disclosed, oil marketing companies appear responsive to broader economic conditions and market trends.

The reduction in LPG prices holds particular significance amid the current economic climate. Businesses, especially in the food and hospitality sectors, heavily depend on commercial LPG cylinders for their operations.

These price cuts offer much-needed financial relief, enabling businesses to better manage operational costs and potentially pass on savings to consumers.

Moreover, the government has actively promoted the use of LPG cylinders for household cooking through schemes like the Pradhan Mantri Ujjwala Yojana, offering subsidies to eligible families. This initiative aims to encourage cleaner cooking fuels and enhance living standards.

As market dynamics evolve, stakeholders will closely monitor factors influencing price adjustments, including international oil market trends and domestic economic policies.

For now, the reduction in commercial LPG cylinder prices represents a significant step forward, providing relief amidst economic challenges.

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