Synopsis
On February 1, oil marketing companies reduced the price of 19 kg commercial LPG cylinders by Rs 7, impacting the hospitality and commercial sectors. The price drop comes just before the Union Budget presentation and reflects ongoing global market trends.Key Takeaways
- 19 kg commercial LPG cylinder prices dropped by Rs 7.
- No change in 14 kg domestic LPG cylinder prices.
- Prices vary across major cities.
- Prices are influenced by global crude oil rates.
- Further adjustments may occur in the future.
New Delhi, Feb 1 (NationPress) In a significant decision affecting the hospitality and commercial sectors, oil marketing companies have reduced the price of 19 kg commercial LPG cylinders by Rs 7, effective immediately.
This adjustment comes just before the Union Budget presentation, which is set for 11 AM in Parliament.
With this change, the price of a 19 kg commercial LPG cylinder in Delhi has decreased from Rs 1,809 to Rs 1,797. However, there has been no change in the pricing of 14 kg domestic LPG cylinders.
In major cities, the previous prices were Rs 1,756 in Mumbai, Rs 1,911 in Kolkata, and Rs 1,966 in Chennai.
Commercial LPG cylinders are extensively utilized in industries such as hotels and restaurants, making this price reduction particularly significant for the hospitality sector. The updated rates are part of a larger trend of fuel price adjustments influenced by varying global market conditions.
Oil companies commonly modify LPG prices in response to shifts in crude oil rates and other economic factors.
In December, oil companies had previously increased the price of a 19 kg commercial LPG cylinder by Rs 62, aligning with global fuel pricing trends. LPG prices differ across states due to variations in local taxes and transportation expenses.
This latest adjustment follows a similar price reduction on January 1, when commercial LPG cylinder prices were lowered by Rs 14.5 following five consecutive hikes.
At that time, the price in Delhi was Rs 1,804 per cylinder. Additionally, Aviation Turbine Fuel (ATF) prices experienced a 1.5 percent decrease, reducing the cost by Rs 1,401.37 per kilolitre to Rs 90,455.47 per kilolitre in Delhi.
As fuel prices continue to be influenced by global market fluctuations, further modifications in LPG and other fuel rates could be anticipated in the upcoming months.
