LPG Price Drop Alert: Save Big As Commercial Cylinder Slashes Rs 30.50, 5kg FTL Cylinder Costs Less!

The prices of both 19 kg commercial cylinders and 5 kg Free Trade LPG (FTL) cylinders have been decreased by oil marketing companies (OMCs) in India, as per the reports. The change will take effect from April 1, 2024.

Following the adjustment, the price of a 19 kg commercial cylinder has been reduced by Rs 30.50, with the new price set at Rs 1764.50 in New Delhi from April 1, as reported by ANI.

LPG Price Drop Alert

Additionally, the price of the 5 kg FTL cylinder has been lowered by Rs 7.50. On March 1, a hike in the prices of commercial liquefied petroleum gas (LPG) gas cylinders was announced by oil marketing companies. This revision in prices occurred amidst fluctuations in fuel costs and market dynamics.

On February 1, variations in the prices of Indane gas cylinders were observed across metro cities, with distinct rates for Delhi, Kolkata, Mumbai, and Chennai. However, as of March 1, consumers witnessed a significant increase in prices of Indane LPG gas cylinders across all metro cities, as per ANI reports.

The recent price cut follows two consecutive price hikes in February and March of this year. Prior to this, prices were slashed on the eve of New Year 2024 by Rs 39.50 per 19-kg commercial cooking gas cylinder.

State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) revise cooking gas prices on the 1st of every month based on the average international price in the previous month.

While specific reasons behind the recent price decrease were not disclosed, factors such as changes in international oil prices, shifts in taxation policies, and supply-demand dynamics are presumed to have influenced these adjustments, as per media reports.

These consecutive revisions highlight the volatile nature of the energy market and its implications for households and businesses reliant on commercial LPG cylinders, as per the report.