September 1, 2023
New Delhi, India
Introduction
In a recent development, Public sector Oil Marketing Companies (OMCs) have brought a sigh of relief to LPG consumers by announcing a significant reduction in the prices of 19 KG commercial LPG gas cylinders. The reduction amounts to Rs 158 per cylinder and is set to take effect immediately. This move comes as a welcome surprise for businesses and industries relying on commercial LPG, providing them with some much-needed financial respite.
Raksha Bandhan surprise
Starting today, the retail sales price of a 19kg commercial LPG cylinder in Delhi will stand at Rs 1,522, making it more affordable for businesses operating in the region. This price cut follows a similar gesture by the central government, which, on the eve of Raksha Bandhan, lowered the price of domestic LPG by Rs 200. These measures are seen as initiatives aimed at easing the economic burden on citizens, especially women.
Monthly revisions for both commercial and domestic LPG (liquefied petroleum gas) cylinders have been a consistent practice, with the new rates becoming effective on the first day of each month. This price reduction for commercial LPG cylinders comes on the heels of a reduction of Rs 99.75 in August, demonstrating the government’s commitment to easing the cost of living and doing business.
Rise in commercial price
In contrast, July witnessed an increase of Rs 7 in the prices of commercial LPG gas cylinders, highlighting the volatility in the global energy market. However, before this increase, there were two consecutive price cuts for commercial LPG cylinders in May and June. In May, OMCs reduced the price of a commercial LPG cylinder by a substantial Rs 172, followed by a further reduction of Rs 83 in June.
It’s worth noting that earlier this year, on March 1, petroleum and oil marketing companies had implemented a substantial hike in the prices of commercial LPG cylinders, raising them by Rs 350.50 per unit, while domestic LPG cylinders saw an increase of Rs 50 per unit. These fluctuations have been closely monitored by consumers and industries alike, and the recent price reductions are seen as a positive step towards stabilizing the market.
In conclusion,
The reduction of Rs 158 in the price of 19 KG commercial LPG gas cylinders is a timely relief for businesses and industries, especially in the wake of economic challenges posed by the ongoing pandemic. These measures align with the government’s commitment to providing financial relief to consumers and promoting ease of doing business in the country. It remains to be seen how the energy market will evolve in the coming months, but for now, consumers can benefit from the reduced LPG prices.
