Prices of 19-kg commercial cylinders slashed by ₹69.50. Check new rates

LPG cylinder price cut: Mumbai will also see a ₹69.50 reduction with the new price set at ₹1,629. In Chennai, the price stands at ₹1,841.50.

Published on: Jun 1, 2024, 07:23:32 IST

By HT News Desk

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LPG cylinder price cut: Oil marketing companies slashed prices of commercial LPG gas cylinders by ₹69.50 with immediate effect from June 1. With this, the retail sales price of 19kg commercial LPG cylinder in Delhi stood at ₹1676. This follows similar reductions in other metro cities across India, reported news agency ANI.

The government is running various schemes to promote the use of LPG cylinders for cooking in homes (Bloomberg file photo.)

Mumbai will also see a ₹69.50 reduction with the new price set at ₹1,629. In Chennai, the price stands at ₹1,841.50 while in Kolkata the price is ₹1,789.50 after the price cut.

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This change in prices of cylinders comes after the previous announcement made on March 1 by oil marketing companies when the rate of 19 kg commercial LPG cylinders was lowered by ₹19. The consecutive cut in price signal a positive trend for businesses grappling with operating costs amid economic challenges. Earlier in April, the prices of 19 kg commercial cylinders and 5 kg FTL (Free Trade LPG) cylinders were slashed by ₹30.50 and ₹7.50, respectively.

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.

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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.

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.

LPG cylinder prices slashed by ₹19. Check latest rates in Delhi, Mumbai, Chennai and Kolkata

However, the Opposition has often taken potshots at the BJP-led Centre for failing to rein in fuel prices and its ripple effect on the prices of essential food items and other commodities.

(With inputs from ANI)

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HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More