The price of a commercial LPG cylinder was reduced on Thursday, 1 September, as global oil prices continued to slide on recession fears. The price of liquefied petroleum gas (LPG) used in commercial cylinders was cut by Rs 91.50 per 19-kg cylinder. Following the latest price reduction, the 19-kg commercial cylinder will now cost Rs 1,885 in Delhi, down from Rs 1,976.50 earlier, according to the data available on the Indian Oil Corporation’s (IOC) website. This price revision will benefit hotels, restaurants and other business establishments that use gas cylinders. However, there is no relief for households as there has been no change in the price of domestic LPG cylinders.
In Mumbai, the 19-kg LPG cylinder will now cost Rs 1,844, instead of Rs 1,936.50. In Kolkata, the 19-kg cylinder will be available at Rs 1,995, down from Rs 2,095.50 earlier. In Chennai, it will now be priced at Rs 2,045. Rates differ from state to state depending on the local VAT. According to Indian Oil Corporation (IOCL), the price has also been reduced in the same range in other metros. Commercial LPG rates are revised once a month.
Meanwhile, domestic LPG cylinders are still burning a hole people’s pockets. The price of a 14.2-kg domestic LPG cylinder was hiked by Rs 50 in July. Consumers who were paying Rs 1,003.50 for a 14.2-kg cylinder in Delhi are now paying Rs 1,053.50. In Kolkata, rates went up from Rs 1,029 per cylinder to Rs 1,079. In Mumbai and Chennai, the domestic 14.2-kg cylinder is now priced at Rs 1,052. 50 and Rs 1,068. 50 respectively.
The retail price of petrol and diesel has remained unchanged in the national capital since May 22 to stand at Rs 96.72 a litre and Rs 89.61 per litre. Note that in India, the oil marketing companies (OMCs) sell 14.2-kg cylinders to domestic households at the prices prevalent in the open market, but the government provides subsidies for 12 such cylinders to beneficiaries of Pradhan Mantri Ujjwala Yojana each year through a direct benefit transfer to their bank accounts.
