Nagpur: The Oil Marketing Companies on Saturday announced the LPG cylinder price cut. The price of 19-kilogram commercial Liquefied Petroleum Gas (LPG) cylinders has been slashed by Rs 69.50. The revised prices have come into effect from June 1 with immediate effect. However, the company has not extended any relief to domestic LPG gas cylinders.
The price reduction decision by Oil Marketing Companies has been taken to offer relief to businesses and commercial enterprises.
This latest reduction comes on the heels of a previous price adjustment on May 1, 2024, when the rate of 19 kg commercial LPG cylinders was lowered by Rs 19. The consecutive decreases in price signal a positive trend for businesses grappling with operating costs amid economic challenges.
A month ago, on May 1, oil marketing companies reduced the prices of commercial LPG gas cylinders by Rs 19 per unit with immediate effect. Earlier in April, the price was cut by Rs 30.50 for a 19-kg commercial cylinder.
With the start of a new month, the new prices of the LPG cylinders have been slashed. The government is running various schemes to promote the use of LPG cylinders for cooking in homes, like Pradhan Mantri Ujjwala Yojana, which provides subsidies to eligible families.
The Opposition, led by the Congress, has often taken potshots at the BJP-led ruling National Democratic Alliance (NDA) at the Centre for failing to rein in fuel prices and its ripple effect on the prices of essential food items and other commodities.
While the precise reasons behind the price decrease remain undisclosed, various factors, such as changes in international oil prices, shifts in taxation policies, and supply-demand dynamics, likely contribute to such adjustments.
Notably, the revisions for both commercial and domestic LPG (liquefied petroleum gas) cylinders typically occur on the first day of each month.
