New Delhi – In a move that will bring relief to commercial users, public sector Oil Marketing Companies (OMCs) have recently declared a noteworthy decrease in the prices of 19 KG commercial LPG gas cylinders.
In a significant development, Prime Minister Narendra Modi’s decision to reduce domestic LPG gas cylinder prices by ₹200 has prompted a subsequent move. As a result, the government has implemented this decision, bringing relief to households nationwide. This decision came when the cost of living had been a significant concern for many citizens.
With this price reduction, the government aims to alleviate the financial burden on households and ensure access to affordable cooking gas. The move is expected to impact the daily lives of countless individuals and families positively.
Commercial Gas Cylinder Prices Slashed by ₹158
In a significant move, oil marketing companies have announced a price reduction for 19 KG commercial LPG gas cylinders. Effective Friday, customers can now avail a reduction of ₹158 on their purchase.
This decision comes as a relief to businesses and industries that heavily rely on LPG for their operations. The price reduction is expected to positively impact the overall cost of production and provide some respite to consumers amidst rising fuel prices.
Indian Oil Corporation, one of the leading oil companies in India, has recently made a significant decision that will bring relief to consumers in the national capital, Delhi. In a move aimed at reducing the financial burden on households, the company has decided to slash the prices of 19-kg cylinders. As a result, the new price for these cylinders now stands at ₹1,522.50.
This decision by Indian Oil Corporation is expected to positively impact the lives of many residents in Delhi, who rely on these cylinders for their daily cooking needs.
Monthly Revisions of Commercial Gas Cylinder Prices Take Effect
Monthly price revisions for commercial and domestic LPG cylinders typically occur on the first day of each month. Consequently, the new rates became effective from September 1, providing immediate relief to consumers.
Commercial Gas Cylinder Prices Fluctuations in 2024
Throughout the year 2024, commercial LPG cylinder prices have seen significant fluctuations. In August, OMCs reduced prices by ₹99.75. However, July witnessed an increase of ₹7 per cylinder.
Before this, there were two consecutive price cuts in May and June, amounting to ₹172 and ₹83, respectively. In April, a price reduction of ₹91.50 per unit was implemented.
Impact of Commercial Gas Cylinder Prices on Elections and Inflation
Cooking gas prices have been a growing concern for households, making it a prominent election issue. The Congress party effectively used the high LPG prices in Karnataka’s recently concluded assembly elections.
The government’s decision to reduce LPG prices aims to mitigate the impact of rising inflation on households and counter the promise of cheaper LPG made by the Congress party in upcoming assembly elections.
Government’s Efforts in Reducing Commercial Gas Cylinder Prices
To further alleviate the burden on consumers, the Central government has also reduced the agricultural infrastructure development levy on imports of liquefied petroleum gas (LPG), liquefied propane, and liquefied butane to zero.
Jet Fuel Prices on the Rise
Meanwhile, there has been a 14% increase in jet fuel prices by oil marketing companies, with the rate in Delhi reaching ₹1.12 lakhs per kilolitre ahead of the festive season. This represents a notable 24% rise in the past two months.
Relief for Consumers Post Reduction of Commercial Gas Cylinder Prices
The reduction in commercial LPG cylinder prices, coupled with the earlier cut in domestic LPG rates, aims to provide significant relief to consumers who have been grappling with rising gas costs.
The government’s proactive stance on addressing these concerns has also been seen as a strategic move ahead of the upcoming general elections 2024.
Commercial Gas Cylinder Prices: What Lies Ahead
With the reduction in commercial LPG prices following the decrease in domestic LPG rates, consumers can expect some respite from the increasing cost of living. These changes in LPG prices highlight the government’s commitment to addressing the economic challenges faced by households across the country.
As we move forward, the impact of these price reductions on consumers’ budgets will become more transparent.
