According to ANI sources, oil marketing companies (OMCs) in India have decreased the prices of both 19 kg commercial LPG cylinders and 5 kg Free Trade LPG (FTL) cylinders.
For 19-kg commercial cylinders, the price cut amounts to ₹30.50, bringing the price in Delhi to ₹1,764.50 as of April 1.
Additionally, the price of 5 kg FTL cylinders has been reduced by ₹7.50.
This price adjustment follows two consecutive hikes in February and March. Earlier, prices were slashed by ₹39.50 per 19-kg commercial cooking gas cylinder on the eve of New Year 2024.
Recent Trends:
OMCs had announced a hike in commercial liquefied petroleum gas (LPG) gas cylinder prices on March 1, increasing the prices of 19 kg commercial LPG gas cylinders by ₹25.
State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) revise cooking gas prices on the 1st of every month based on the average international price in the previous month.
Factors at Play:
While specific reasons for the recent price decrease were not mentioned, factors such as changes in international oil prices, taxation policies, and supply-demand dynamics likely contributed.
These consecutive revisions highlight the volatile nature of the energy market and its impact on households and businesses reliant on commercial LPG cylinders, the report noted.
