LPG Price Cut: OMCs Slash Prices of Commercial Cylinders; 5kg FTL Cylinders Cost Less. Check New Rates

LPG Price Cut: Earlier on February 1, the prices of Indane gas cylinders varied across metro cities, with Delhi, Kolkata, Mumbai, and Chennai each experiencing distinct rates

The recent price cut follows two consecutive hikes in February and March. Notably, prices were reduced on the eve of New Year 2024 by Rs 39.50 per 19-kg commercial cooking gas cylinder. ( Image Source :Getty )

Oil marketing companies (OMCs) in India on Monday announced a significant reduction in the prices of both 19 kg commercial cylinders and 5 kg Free Trade LPG (FTL) cylinders, effective from April 1, 2024. The price of a 19 kg commercial cylinder has been decreased by Rs 30.50, bringing the new price in New Delhi to Rs 1,764.50, whereas the price of the 5 kg FTL cylinder has been lowered by Rs 7.50.

This price adjustment comes in the wake of previous increases in commercial liquefied petroleum gas (LPG) cylinder prices announced by OMCs on March 1, amid ongoing fluctuations in fuel costs and market dynamics.

Earlier on February 1, the prices of Indane gas cylinders varied across metro cities, with Delhi, Kolkata, Mumbai, and Chennai each experiencing distinct rates. However, by March 1, consumers across all metro cities saw a notable increase in Indane LPG gas cylinder prices.

The recent price cut follows two consecutive hikes in February and March. Notably, prices were reduced on the eve of New Year 2024 by Rs 39.50 per 19-kg commercial cooking gas cylinder.

State-run OMCs such as Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) routinely revise cooking gas prices on the 1st of every month based on the average international price in the previous month.

While specific reasons for the recent price decrease were not explicitly stated, factors such as changes in international oil prices, taxation policies, and supply-demand dynamics are likely contributors.

These consecutive revisions highlight the volatile nature of the energy market and its implications for households and businesses reliant on commercial LPG cylinders, according to reports.

Earlier in March, the Centre had cut the prices of LPG cylinders by Rs 100 just of the upcoming Lok Sabha polls. Prime Minister Narendra Modi branded it as a gift in Women's Day saying the move will ease the financial burden on millions of households across the country, "especially benefiting our Nari Shakti. "