Oil marketing companies announced Rs 30.50 cut in commercial 19kg LPG cylinders and 5kg FTL (Free Trade LPG) cylinders are cheaper by Rs 7.50. With the price cut, the cost of a 19 kg commercial cylinder in Delhi is now Rs 1764.50 starting April 1.
Similarly, the price of the 5 kg FTL cylinder has been reduced by Rs 7.50. This reduction comes after oil marketing companies announced a hike in the prices of commercial liquefied petroleum gas (LPG) cylinders on March 1, amidst fluctuations in fuel costs and market dynamics.
While the specific reasons for the price decrease remains undisclosed, factors such as changes in international oil prices, shifts in taxation policies and supply-demand dynamics are likely contributors.
This price cut follows the Rs 25 hike in 19kg commercial LPG cylinders on March 1. Typically all cooking gas manufacturers including Indian Oil, BPCL and HPCL revise prices on the 1st of every month depending on market conditions.meanwhile domestic LPG prices were cut on March 9 by Rs 100 per 14.2-kg cylinder.
These consecutive revisions underscore the volatile nature of the energy market and its implications for households and businesses reliant on commercial LPG cylinders.
(With inputs from ANI)