LPG gas price: OMCs slash commercial gas cylinder prices from July 1; check new rates here

Oil marketing companies have revised the prices of commercial LPG gas cylinders. The 19 kg commercial LPG gas cylinder rate has been slashed by ₹30 since Monday, July 1. In Delhi, the revised retail sale price of a 19 kg commercial LPG cylinder is ₹1646, newswire ANI reported.

The price of the commercial LPG cylinder of 19 kg has been slashed by ₹30. Consequently, the new retail sales price of a 19 kg commercial LPG cylinder in Delhi is now ₹1646.

This latest price cut follows a series of reductions over the past few months. On June 1, the rate of 19 kg commercial LPG cylinders was reduced by ₹69.50 in Delhi, bringing the retail sales price down to ₹1676. Before that, on May 1, 2024, there was a reduction of ₹19 per cylinder. 

The frequent adjustments in LPG cylinder prices at the start of each month reflect the dynamic nature of the market. Various factors, such as international oil prices, taxation policies, and supply-demand dynamics, play a significant role in these pricing decisions.

Although the exact reasons behind the recent price decrease have not been disclosed, it is evident that the oil marketing companies are responsive to the broader economic conditions and markets.

The reduction in LPG prices is particularly significant given the current economic climate. Businesses, especially those in the food and hospitality sectors, rely heavily on commercial LPG cylinders. The price cuts provide some much-needed financial relief, enabling these businesses to manage their operating costs better and potentially pass on some savings to consumers.

Additionally, the government has proactively promoted using LPG cylinders for home cooking through various schemes such as the Pradhan Mantri Ujjwala Yojana. It provides subsidies to eligible families, encouraging the adoption of cleaner cooking fuels and improving living standards.

(With Inputs from ANI)